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.
Show this thread
-
but how else would you do it? proof of work is definitely wasteful when there are enough members competing, but how would YOU created a peer to peer payment system with no central authority and no double-spending?
For starters, without a ~4 transaction per second, hardcoded, design limit. That particular design "feature" is the biggest problem with Bitcoin right now. Yes, Bitcoin pioneered a lot of interesting concepts. It also has some glaring, ridiculous design flaws.
-
-
Bitcoin is an experiment run amok. It should've never been used in production. Then again, this is how we got IPv4 too. Humans will never learn.
-
I don’t understand. What is “production”? Are you saying you think everyone adopting Bitcoin is wrong, and you are right, because of the low transaction speed? Or because of the energy consumption? Both?
- Show replies
New conversation -
-
-
To be fair, that transaction limit was not part of the original whitepaper. Unfortunately, the most trustworthy person arguing that point is a guy who stored explosives in his house and shipped them.
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
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.