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Every lightning transaction (or channel update) is a valid Bitcoin transaction that can be broadcasted to the Bitcoin network and settled at any time. Lightning

Every lightning transaction (or channel update) is a valid Bitcoin transaction that can be broadcasted to the Bitcoin network and settled at any time. Lightning capacity and transactions are growing fast. "Crypto"'s biggest proponents haven't embraced lightning because they have shitcoins to sell.

drekk 4y ago
I think if your coin uses more energy to settle one transaction than a typical South American uses in a year it's the "shitcoin" Crypto being filled with scams is a feature, not a bug.
- sph 4y ago
  > your coin uses more energy to settle one transaction than a typical South American uses in a year Do you even know what you're talking about? The energy concerns are real, but please avoid exaggeration to win arguments.
  - bearmode 4y ago
    https://www.moneysupermarket.com/gas-and-electricity/features/crypto-energy-consumption/ https://www.moneysupermarket.com/gas-and-electricity/feature... >By far the most power-hungry crypto in our study, we found that a single Bitcoin transaction uses an average of 1,173 Kilowatt Hours (kWh). If we consider that the average monthly electricity usage for a UK household is 350 kWh, that’s enough to power the typical UK home for more than three months at a cost of roughly £125 ($173), based on a fixed cost of £0.11 ($0.148) per kWh >In the U.S, it would equate to roughly 6 weeks of electricity based on an average household electricity usage of 877 kWh per month (U.S Energy Information Administration). Not quite an entire year, but definitely a number of months. Also according to digiconomist's latest figures, it's currently at around 1500kWh per transaction. So even worse.
    - deleted 4y ago
      [deleted]
    - tossl568 4y ago
      Individual transactions don't use energy. The energy is used to secure the entire value of the ledger back to the very first transaction. Each layer 1 final settlement Bitcoin transaction can support potentially limitless transactions on the layer 2 lightning network. Electricity use does not equal emissions. Digiconomist works for the Dutch central bank.
- tossl568 4y ago
  Energy is converted directly into security. Energy use isn't a bad thing.

drekk 4y ago

I think if your coin uses more energy to settle one transaction than a typical South American uses in a year it's the "shitcoin" Crypto being filled with scams is a feature, not a bug.

sph 4y ago
> your coin uses more energy to settle one transaction than a typical South American uses in a year Do you even know what you're talking about? The energy concerns are real, but please avoid exaggeration to win arguments.
- bearmode 4y ago
  https://www.moneysupermarket.com/gas-and-electricity/features/crypto-energy-consumption/ https://www.moneysupermarket.com/gas-and-electricity/feature... >By far the most power-hungry crypto in our study, we found that a single Bitcoin transaction uses an average of 1,173 Kilowatt Hours (kWh). If we consider that the average monthly electricity usage for a UK household is 350 kWh, that’s enough to power the typical UK home for more than three months at a cost of roughly £125 ($173), based on a fixed cost of £0.11 ($0.148) per kWh >In the U.S, it would equate to roughly 6 weeks of electricity based on an average household electricity usage of 877 kWh per month (U.S Energy Information Administration). Not quite an entire year, but definitely a number of months. Also according to digiconomist's latest figures, it's currently at around 1500kWh per transaction. So even worse.
  - deleted 4y ago
    [deleted]
  - tossl568 4y ago
    Individual transactions don't use energy. The energy is used to secure the entire value of the ledger back to the very first transaction. Each layer 1 final settlement Bitcoin transaction can support potentially limitless transactions on the layer 2 lightning network. Electricity use does not equal emissions. Digiconomist works for the Dutch central bank.
tossl568 4y ago
Energy is converted directly into security. Energy use isn't a bad thing.