Re:Bitcoin is a ‘boon for surveillance’, says former CIA dir...
by toss1 on Wednesday April 14, 2021 @08:48AM
(#26806315)
Comparing apples vs container ships.
With bank ledgers, the computation energy is a minimized side effect that does not even show up as a rounding error in the financial reports of companies, and they do tens of thousands of transactions per second.
For cryptocurrencies, burning the energy is a key feature - 100% correlated to the proof of work and increasing by design. This achieves handfuls of transactions per second with energy burn exceeding that of nations.
Children's cartoons make better representations of the real world than that post.
With bank ledgers, the computation energy is a minimized side effect that does not even show up as a rounding error in the financial reports of companies, and they do tens of thousands of transactions per second.
For cryptocurrencies, burning the energy is a key feature - 100% correlated to the proof of work and increasing by design. This achieves handfuls of transactions per second with energy burn exceeding that of nations.
Children's cartoons make better representations of the real world than that post.