the amount of just ... straight up disinformation that uninformed humans are generating about bitcoin is really something todayhttps://twitter.com/DanielleFong/status/1384206262045351952 …
-
Show this thread
-
web(3)master nifty ⚡️ ⚡️ ⚡️ Retweeted web(3)master nifty ⚡️ ⚡️ ⚡️
web(3)master nifty ⚡️ ⚡️ ⚡️ added,
2 replies 0 retweets 3 likesShow this thread -
Replying to @niftynei
i would hope you would give me a little more time before dunking on me. anyway this 'transaction rate / usage is decoupled from energy use, which is just due to mining' doesn't make sense to me, and try as i might being called an idiot on here doesn't make it make any more sense
1 reply 0 retweets 1 like -
Replying to @DanielleFong
you're not alone in your misunderstanding! admitting it's not something you understand is admirable. but as it is your tweets are misinformed; i'm sorry you feel like you're being dunked on for getting called on it.
1 reply 0 retweets 0 likes -
Replying to @niftynei
forgive me, i mean to say that i'm still quite dubious as to the claim! i think it's being dunked on to quote tweet like that when the claim is at least debatable.
transaction scale, price, fees, energy use - these are really completely decoupled? not completely1 reply 0 retweets 1 like -
Replying to @DanielleFong
i understand that you don't understand!! but uh, it's not debatable. and yes. transactions fees and usage are completely decoupled from the scale of energy usage of the network.
2 replies 0 retweets 1 like -
Replying to @niftynei
look, i understand that there is a fine line of argument that says that there is a *decoupling* between energy use and usage, but it does not mean that they totally decoupled! obviously, coupling through price, and indirectly through demand for onchain ledger transactions, fees
1 reply 0 retweets 0 likes -
Replying to @DanielleFong
it's not an argument. it's how it works. i've already pointed out elsewhere that the coin price does heavily influence the energy usage. you're making an assumption that increased usage increases the price. that's specious.
2 replies 0 retweets 0 likes -
Replying to @niftynei
you make a stronger claim that, say 1000x usage will make no (direct?) influence to the price or the energy usage, or the fees. i don't see that happening. ultimately the fees will pay the miner's energy expense, more demand/use = more fees, & i don't see how they are bounded
1 reply 0 retweets 0 likes
& the ability of level 2 like lightning or coinbase to glom together transactions, yet this is a partial solution, but it's not complete, afaict. the value of writing to a ledger between say Robinhood and Coinbase could be >>100x higher than the $23-$50 per transaction now
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.
