i should be smarter than to argue with bitcoin maximalists about the energy intensity of bitcoin, but seriously, technologists, the industry has a problem with energy usage *even at this scale*. if it 'actually' scaled to replace everything it would be catastrophic.
indeed, it doesn't scale with the transaction rate because the transaction rate doesn't scale at all -- sold as a 'currency' to displace, say, 'all of banking', a previous comparison, at 1 mb blocks every 10 m it just can't be a transaction layer like VISA or a currency
-
-
your faq is well written, and does provide some fair arguments. what it doesn't support is any kind of comparison with energy usage of like, the entire financial system. if bitcoin can't efficiency be a unit of transaction and is mainly a store of value, much is missing
-
The on-chain layer of Bitcoin does indeed not scale to a payment layer. It would be better compared with an international Fedwire, or SEPA. The base-layer provides finality and security assurances for other systems built on top.
- Show replies
New conversation -
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.
