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0 pointsuser-the-name4y ago0 comments

There is a whole world of difference between heating homes across the planet, and running a network that can do 7 transactions a second.

A single home PC from 2004 could run the bitcoin network, but instead, it uses 0.1% of all the energy in the world.

It is by a wide margin the most ridiculously inefficient thing ever created. And it won't improve, because it is built that way by design.

0 comments

Andrew_nenakhov4y ago

You are clearly missing the point of why it uses so much energy. It is the price of security, decentralisation and permissionlessness.

As for "7 transactions per second", sure, 7 on-chain transactions with the current block size. You don't need them for things like buying a cup of coffee. So this FUD is somewhat outdated.

user-the-nameOP4y ago

Yeah, it's the price of that.

And that price is ridiculously, stupendously high. Much, much, much too high. It is in no way worth that price.

Andrew_nenakhov4y ago

Maybe, for you. Probably you're lucky to live in a country that doesn't abuse its financial system. But others pay this price gladly, because bitcoin provides clear and undisputable value for them.

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0 pointsuser-the-name4y ago0 comments

There is a whole world of difference between heating homes across the planet, and running a network that can do 7 transactions a second.

A single home PC from 2004 could run the bitcoin network, but instead, it uses 0.1% of all the energy in the world.

It is by a wide margin the most ridiculously inefficient thing ever created. And it won't improve, because it is built that way by design.

0 comments

Andrew_nenakhov4y ago

You are clearly missing the point of why it uses so much energy. It is the price of security, decentralisation and permissionlessness.

As for "7 transactions per second", sure, 7 on-chain transactions with the current block size. You don't need them for things like buying a cup of coffee. So this FUD is somewhat outdated.

user-the-nameOP4y ago

Yeah, it's the price of that.

And that price is ridiculously, stupendously high. Much, much, much too high. It is in no way worth that price.

Andrew_nenakhov4y ago

Maybe, for you. Probably you're lucky to live in a country that doesn't abuse its financial system. But others pay this price gladly, because bitcoin provides clear and undisputable value for them.

1 more reply

j / k navigate · click thread line to collapse