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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If you judge a currency by its transaction speed across the internet, then what does that say about USD? It takes a few days to mail somebody cash and about the same amount of time for a wire or ACH to clear. That’s orders of magnitude slower than Bitcoin.
More than four wires are sent per second globally (as well as card payments, etc). The *throughput* of existing systems is vastly higher than Bitcoin. Additionally, for systems like PayPal and similar, as well as debit, *both* latency and throughput are much better than Bitcoin.
