And to all the inevitable "but decentralized but instant but global but whatever" repliers: if you think any of those require and are worth a NINE ORDER OF MAGNITUDE overhead, please never be an engineer.
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Bitcoin consumes 4,000,000,000 W of power to process four transactions per second. A single Raspberry Pi with a database can do an order of magnitude more on 5W. Think about that next time you wonder if it's a good design.
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I made a little diagram just to put things into perspective. This is how much energy Bitcoin uses compared to another globally distributed system.pic.twitter.com/XuVeCdn69y
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But is it secure?
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no, not really.
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Burning coal!
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Over three times the power it takes to go back to the future.
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Give me something even remotely comparable that achieves a decentralized asset. You can build fast instant payments over it...
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If you build a fast payment mechanism on top of it, it's no longer decentralised, but federated between large nodes that use more efficient means of transfers for their customers. You know, like banks currently are.
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some people didn’t get the memo that we’re caring about efficiency in 2k18pic.twitter.com/n6BVdQc0Oq
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Literally 4 giga watts
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