Re:Bill Gates Says that Bitcoin is bad For the Planet
by capableweb on Monday March 08, 2021 @02:35PM
(#26390438)
Silly idea maybe, and will disappear in the ocean of other comments here, but hear out my silly idea:
Since the complaint tends to be "A huge amount of energy is wasted for a single transaction", why don't we try to inflate the value of Bitcoin as much as possible, so one Bitcoin is worth $10 million or something like that, then we can fit more USD value in one transaction, and the energy impact is now lower of that transaction, I guess, when compared to the traditional financial system.
Might be a stupid idea, but eager to hear what you all think.
Re:Bill Gates Says that Bitcoin is bad For the Planet
by abreis on Monday March 08, 2021 @02:39PM
(#26390495)
Bitcoin is divisible to 0.00000001, so if a bitcoin was worth $10 million, the smallest possible transaction would still be worth just 10 cents (+ transaction fees).
Since the complaint tends to be "A huge amount of energy is wasted for a single transaction", why don't we try to inflate the value of Bitcoin as much as possible, so one Bitcoin is worth $10 million or something like that, then we can fit more USD value in one transaction, and the energy impact is now lower of that transaction, I guess, when compared to the traditional financial system.
Might be a stupid idea, but eager to hear what you all think.