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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Are we trying to shut down cryptocurrency at large? Or only blockchain-based currency? Where is all this coinrage going, exactly?
I'm saying Bitcoin is terrible. I'm not saying all cryptocurrencies are terrible.
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So where are we going to get robustness of the same magnitude as a distributed ledger? I agree, these are hard to scale. Is there a digital currency not based on bitcoin that you know does this significantly better?
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This is why I'm waiting and seeing if anything better pops up. I'm just point out just how mind-bogglingly bad the current state of affairs is. Cringe-inducingly bad for anyone who has ever worked with distributed systems.
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As someone working in AML I am saying cryptocurrencies are terrible
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