Re:New study quantifies Bitcoin’s ludicrous energy consumption
by VMG on Thursday May 17, 2018 @11:51AM
(#17092397)
There can be an infinite number of off-chain transactions based on a single on-chain transaction.
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Re:New study quantifies Bitcoin’s ludicrous energy consumption
by spookthesunset on Thursday May 17, 2018 @11:54AM
(#17092425)
> There can be an infinite number of off-chain transactions based on a single on-chain transaction.
What the fuck is the point of bitcoin if the majority of all transactions are off-chain?
Re:New study quantifies Bitcoin’s ludicrous energy consumption
by VMG on Thursday May 17, 2018 @12:01PM
(#17092493)
The transactions are denominated in fucking Bitcoin, each party has the option to go off-chain without counterparty risk.
Re:New study quantifies Bitcoin’s ludicrous energy consumption
by spookthesunset on Thursday May 17, 2018 @12:16PM
(#17092655)
> The transactions are denominated in fucking Bitcoin
LOL. No transitions get denominated in BTC. Cyrpto is way to volatile for that. Anybody sane prices their stuff in USD or some other currency.
Whether bitcoiners admit it or not, the fiat value of their internet tokens are the only thing they care about. What is their BTC worth and when can they go buy their lambo (using fiat, of course...)