Bitcoin’s network draws a negligible amount of energy considering the amount of financial transactions it allows.
Do you think all the extremely complex (and corrupt) existing financial system is more energy efficient?
Also miners gravitate toward regions with cheap, renewable electricity, and market pressures continuously push the ecosystem toward greener power mixes, so the energy profile is improving over time.
Are you really gonna smear Bitcoin with financial missbehaviour? Do you know what’s the currency most used for ilegal purposes? No? It’s the dolar.
Trillions of dollars fuel narcotrafic, human trafficking and other crimes against humanity.
This post also fails to consider that Bitcoin serves a vital purpose as a savings mechanism, in the face of government that are not fiscally responsible (inflation).
Housing prices, stock market manipulation, over investments and more and more shenanigans are only incentiviced by the fact that people cannot save in any currency, when the best of it lost 90% of its value in the last 70 years.
BTW, don’t get me started on the big dumpster fire of energy and capital that is the AI bubble…
If you are going to hate something you might as well take 10 minutes to understand what you hate, otherwise you are a zombie.
If we’re comparing against the energy cost of securing Bitcoin, then wouldn’t we need to evaluate the energy cost of securing the legacy financial system - its military?
With payment channels you can have theoretically infinite transactions per second; it’s settlements that go on the blockchain. And those settlements can eventually go into channel factories and sidechains.
Bitcoin’s network draws a negligible amount of energy considering the amount of financial transactions it allows.
Do you think all the extremely complex (and corrupt) existing financial system is more energy efficient?
Also miners gravitate toward regions with cheap, renewable electricity, and market pressures continuously push the ecosystem toward greener power mixes, so the energy profile is improving over time.
Are you really gonna smear Bitcoin with financial missbehaviour? Do you know what’s the currency most used for ilegal purposes? No? It’s the dolar.
Trillions of dollars fuel narcotrafic, human trafficking and other crimes against humanity.
This post also fails to consider that Bitcoin serves a vital purpose as a savings mechanism, in the face of government that are not fiscally responsible (inflation).
Housing prices, stock market manipulation, over investments and more and more shenanigans are only incentiviced by the fact that people cannot save in any currency, when the best of it lost 90% of its value in the last 70 years.
BTW, don’t get me started on the big dumpster fire of energy and capital that is the AI bubble…
If you are going to hate something you might as well take 10 minutes to understand what you hate, otherwise you are a zombie.
it is.
If we’re comparing against the energy cost of securing Bitcoin, then wouldn’t we need to evaluate the energy cost of securing the legacy financial system - its military?
Are you saying the post is wrong about the 7 transactions a second and being worse than 33 bps router?
I’m saying that’s like comparing apples with oranges.
With payment channels you can have theoretically infinite transactions per second; it’s settlements that go on the blockchain. And those settlements can eventually go into channel factories and sidechains.