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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How much power does it takes to run all the banks buildings? All the people working there taking their car? Truck taking cash to the ATMs? Machine to print those cash? Server running the Sql database? The ATMs?... Think about this before blaming a great alternative to fiat.
A lot less, per transaction. Read the other replies. This argument is completely dead in the water. Traditional banks are very inefficient but still a hell of a lot more efficient than Bitcoin.
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The issue with that mentality is that banks won't get better over time. Bitcoin have the lightning network that can change everything. If all fails, a fork or algorithm change can be implemented. Is it perfect right now? No its not, but at least there's a future
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Lightning won't work because Bitcoin is so bad it isn't even efficient enough to handle exceptional/error cases for a global network, which is what Lightning uses it for. The future is some altcoin doing things right from the beginning.
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basically your saying bitcoin is worthless bc it takes 2 much energey per transaction . but your not saying crypto in general is bad. just this particular coin.
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Yes, I'm saying Bitcoin is bad, not that the cryptocurrency concept is bad. BTW, they're called cryptocurrencies, not "crypto" (which means cryptography).
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Bitcoin scales to the order of O(1) to the number of transactions. That is great engineering!
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