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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yes that's unfortunate, but people are using their energy to mine bitcoin to make profits out of it. If half of bitcoin miners stopped now, the network would still work equally, just less decentralized, but using way less electricity :) what do you think about
@monerocurrency ?
But it would still be limited to a few transactions per second. The problem is all the mining effort is for naught. The network isn't stronger or getting more capacity because of it. It's just an arms race for block rewards and transaction fees.
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I assume that the number of miners will crash when BTC reaches the 21KK coins mined. Unfortunately, that'll happen only by 2140 where we'll probably not be here to see it :P Bitcoin is the "mother" cryptocoin and it has a lot of flaws. Fortunately there are better alternatives!
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