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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That's exactly the point. You cannot do the exact math on either side.
Thankfully, the math can be off by a couple orders of magnitude and the conclusion is still valid: Bitcoin is a hopelessly broken design that fundamentally does not scale.
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How exactly are you doing the math on traditional economy? Im seeing *no* numbers at all!
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You don't need to do any math to know that bank transfers and similar "traditional" mechanisms of value exchange do not have a marginal cost anywhere near $30. Otherwise banks would be bleeding cash by completing many transactions for pennies if not for free.
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Bitcoin does scale by increasing the size of the blocks. More transactions per block. Same power consumption.
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Nope. Even if you get over the silly transaction cap, it still has about O(n³) storage scaling with the number of participants, which is completely untenable. Can't fix that with larger blocks.
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What would you do different?
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