Yep. Theres a lot of misinformation due to bank lobbys propaganda. Bitcoin was designed to be more efficient.
It doesn’t need humans to deal with transaction reversals (this was a key part of the design per the white paper), so you cut out all the energy that goes into creating buildings for offices and maintaining them. Also it scales up without using additional energy, so if you actually look at the numbers it uses magnitudes less energy.
Yep, now you’re seeing my point. As bitcoin scales up, it uses no additional energy. That’s the kicker.
But as traditional finance scales up, the energy required increases with no limits. Thats why bitcoin uses magnitudes less energy than these dumb and wasteful banking systems.
But you would contribute less than nothing with a normal pc for this. If you’ve got an ASIC miner that supports sha256 you’re probably already mining bitcoin so why even mention it here?
I prefer bitcoin. You’re doing a lot of great work helping society get rid of those awful financial institutions by verifying transactions.
It uses much less energy too
Bitcoin uses less energy? Now that’s something I haven’t heard of before.
The jerk is taking about Bitcoin vs Banks/Finance, not vs BOINC
Yep. Theres a lot of misinformation due to bank lobbys propaganda. Bitcoin was designed to be more efficient.
It doesn’t need humans to deal with transaction reversals (this was a key part of the design per the white paper), so you cut out all the energy that goes into creating buildings for offices and maintaining them. Also it scales up without using additional energy, so if you actually look at the numbers it uses magnitudes less energy.
This is just silly. If you had said Etherium, then maybe. But Bitcoin?? C’mon…
Cant disagree with facts
You clearly can.
“proof-of-work” process today requires 705 kWh of electricity, ".
https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/bitcoin-mining-energy-use-doubled-in-2023-as-crypto-prices-rose-79854382#:~:text=Bitcoin mining companies use powerful,of electricity%2C according to Digiconomist.
And I’m done.
And that’s magnitudes less than all traditional financial institutions
And how many magnitudes less transactions does Bitcoin do than all traditional financial institutions?
Yep, now you’re seeing my point. As bitcoin scales up, it uses no additional energy. That’s the kicker.
But as traditional finance scales up, the energy required increases with no limits. Thats why bitcoin uses magnitudes less energy than these dumb and wasteful banking systems.
Any Proof of Work coin is just stupid when you can use that power to do something better.
Its doing something pretty fucking useful. Verifying transactions using wayyyy less energy than banks use
But you would contribute less than nothing with a normal pc for this. If you’ve got an ASIC miner that supports sha256 you’re probably already mining bitcoin so why even mention it here?