4 ms·

Yeah, I totally forgot that.

• scalablenotions 9y ago
  If you compare the energy consumption of traditional banking systems to Bitcoin, you will realise how very efficient blockchain is.
  • lalaland1125 9y ago
    Energy efficient in what sense? If you are comparing the cost per transaction or per amount of money transferred, then I don't see how Bitcoin could in any way be considered more efficient.
  • chris_wot 9y ago
    I hardly think so. Try scaling up Bitcoin to the world's current volume of transactions and you'll find it uses vastly more electricity than traditional banking systems use.
    • scalablenotions 9y ago
      We are working on it, so watch this space. The power consumption will not increase linearly, because of tier 2 & 3 solutions. The key is that blockchain is automated. With traditional centralised trust systems, you need buildings full of people running everything.
      • floatboth 9y ago
        Buildings full of people are a joke compared to the massive amounts of power wasted on mining.
      • village-idiot 9y ago
        You will scale the blockchain by .... not using the blockchain. Okay.
  • lz400 9y ago
    It's these deluded comparisons that make blockchain proponents look silly. The "traditional banking system" provides orders of magnitude more services than a blockchain. They are just not comparable.
  • village-idiot 9y ago
    Only because you desperately wish for this to be true, not because it is.