3 ms·
Spending 800M$ a year in electricity alone to run a digital currency is massive and at 8$ per transaction seems incredibly inneficient. The comparison to the VI
by pedrocr 9y ago
Spending 800M$ a year in electricity alone to run a digital currency is massive and at 8$ per transaction seems incredibly inneficient. The comparison to the VISA network is incredible. Independently of your opinion of the value of Bitcoin in the long term the current network is definitely not more useful to society than the VISA network.
- GBiT 9y ago800M is not to run the network, its hard money. If 1 mb limit was removed today, this network can handle loads of VISA and more. Electricity is spent to create new blocks... Hard work is done to create new Bitcoin and verify transactions.