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A comment on Senators move to exempt Bitcoin, crypto miners from proposed U.S. tax rules. Parent comment

Re:Senators move to exempt Bitcoin, crypto miners from propo... by mikeblackson on Friday August 06, 2021 @06:48PM (#28093647)
You can do 1+ million lightning network transactions that will settle as 1 transaction on the BTC blockchain, so ~$93/1,000,000? Sounds amazingly cheap for uncensorable transactions.

ESG people are trying to solve something that is already solved. POW is here to stay and will scale tremendously well as we all move to layer 2.

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Re:Senators move to exempt Bitcoin, crypto miners from propo... by arcticbull on Monday August 09, 2021 @04:49PM (#28122174)
As I mentioned upthread I can't possibly disagree more. PoW is designed specifically not to scale. The higher the price the more it wastes. It's an embarrassingly poor technology.

You completely synthesized $93/1000000 obviously, and as we discussed it would take 75 years to open a channel for everyone alive today and $300,000,000,000.

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