> So 0.210603 / 285,418 = 0.000000737874765 which is 737.874765 kWh per transaction. Assuming a price of $0.10 and an average 475g CO2 emitted per kWh, the real cost of a single transaction is $73 and 350kg of CO2. But I suppose that's a price worth paying...
From the same site, mean transaction value is 2.67 BTC ($86,672 USD), so about .1% transaction fee. https://www.blockchain.com/charts/cost-per-transaction-perce... computes it at closer to 1%. My guess for the difference is comparing total volume vs. approximate real value transfer (subtracting the change going back to the same address).
Comparable to the cost of the card networks but an order of magnitude more expensive than ACH transfers and maybe double the cost of wire transfers.
EDIT: I'm assuming that the profit margin is scarce on average so most miner fees go directly to hardware+electricity. Given the volatile price in USD I don't know a better assumption to make.
Yeah your point about it being a fairly low % of average transaction value is valid, the % is highly dependant on the current market price of bitcoin, though.
The $73 is not strictly related to the transfers fees but rather to how much it costs to mine a single bitcoin. If the total numbers of transactions were to decrease by 99% the energy cost per transaction would be $7300 but that wouldn't mean that transfers fees would increase that much or at all (if I understand how btc transfers work correctly it should decrease since there would be less people bidding) as long mining bitcoin remains profitable.
If currently 900 coins are generated per day, the cost to generate 1 bitcoin (234003kWh at $0.1 per kWh and using the yearly energy consumption value) is $23,400 in addition to that miners also received 150 coins from transaction fees in the last 24 hours. So if 150 dropped to ~0 the number of miners should only decrease by 14% to maintain the same profit margins.
From the same site, mean transaction value is 2.67 BTC ($86,672 USD), so about .1% transaction fee. https://www.blockchain.com/charts/cost-per-transaction-perce... computes it at closer to 1%. My guess for the difference is comparing total volume vs. approximate real value transfer (subtracting the change going back to the same address).
Comparable to the cost of the card networks but an order of magnitude more expensive than ACH transfers and maybe double the cost of wire transfers.
EDIT: I'm assuming that the profit margin is scarce on average so most miner fees go directly to hardware+electricity. Given the volatile price in USD I don't know a better assumption to make.