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> compared to the existing banking system it's trying to replace I don't think it's appropriate to compare it to the existing banking system (whose featureset
by jcgl 10mo ago
> compared to the existing banking system it's trying to replace
I don't think it's appropriate to compare it to the existing banking system (whose featureset goes far beyond payments and managing account balances).
It's appropriate to compare it to existing payment and account systems. And on that front, compared to e.g. Mastercard, there's no way Bitcoin is more efficient. TXs/watt, $/watt, however you want to measure it.
- l___l 10mo ago> there's no way Bitcoin is more efficient No way? You studied this personally and can prove it? Transaction Fees On Bitcoin Lightning Network Are 1,000 Times Cheaper Than Visa And MasterCard https://www.binance.com/en/square/post/447705 https://www.binance.com/en/square/post/447705
- jcgl 10mo agoLightning isn't Bitcoin. It's an L2. It helps implement actual practical payments for Bitcoin, and doesn't (afaiu) manage account balances. In other words, you cannot seriously compare it to Mastercard; you've gotta include Bitcoin itself.
- l___l 10mo ago[dead]
- jcgl 10mo agoAlso, it should be obvious that sources from the cryptocurrency industry have a conflict of interest. If there are better sources than something like Binance, then those should be used. If there aren't better sources, well...