4 ms·

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

by 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.

4 ms·

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

by 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.