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.
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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.
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The properties of the base-layer allow second-layer systems to be built with unprecedented trade-offs. Most payments then happen in custodial wallets, Lightning Network, exchanges, side-chains like Liquid and RSK, and payment networks like VISA.
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@stefanwouldgo, ^ your FAQ being useful.Thanks. Twitter will use this to make your timeline better. UndoUndo
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