10 years of whatever this has been

Re:10 years of whatever this has been by kmonsen on Thursday November 18, 2021 @01:41AM (#29262679)

Bitcoin is perhaps a rounding number today (my guess is that it is more than that due to Chinese miners not reporting energy usage correctly but could very easily be wrong), but what it solves is even less of a rounding number.

Said in a different way to do all financial transactions on the blockchain would use a lot more energy then it currently does.

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Re:10 years of whatever this has been by errantmind on Thursday November 18, 2021 @01:48AM (#29262709)

BTC does not require every single transaction to be processed on-chain in the way that you describe. Please refer to the Lightning Network.

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Re:10 years of whatever this has been by kmonsen on Thursday November 18, 2021 @03:18AM (#29263292)

But then you are moving the goal posts, blockchain is not really needed for lighting.

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Re:10 years of whatever this has been by throwaway248329 on Thursday November 18, 2021 @02:27AM (#29262974)

That's not how it works, energy usage does not scale with the number of transactions.

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Re:10 years of whatever this has been by kmonsen on Thursday November 18, 2021 @03:13AM (#29263261)

Uh, why not?

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