This isn’t propaganda and none of this has been debunked. Bitcoin can only handle a theoretical maximum of 7 transactions per second (in practice it’s closer to between 3 and 5) and I’m not aware of any cryptocurrency that can handle more than 60 transactions per second. Regular financial transaction networks meanwhile handle thousands of transactions per second while consuming far less power (both in terms of electricity and computing power).
Lightning adds a layer of complexity and additional failure points. It also centralizes power in the bitcoin network even further.
It doesn’t actually change anything about the fact that Bitcoin isn’t a currency: Despite the fact that it’s claimed to be theoretically able to handle millions of transactions per second, it only handles a few million per month or about half of all Bitcoin transactions after having been around for six years (and most transactions aren’t payments for goods or services). The vast majority of online commerce does not accept bitcoin nor any other cryptocurrency, which isn’t surprising, given that their values fluctuate wildly. Currencies need, acceptance and stability, neither of which applies to anything crypto.
This isn’t propaganda and none of this has been debunked. Bitcoin can only handle a theoretical maximum of 7 transactions per second (in practice it’s closer to between 3 and 5) and I’m not aware of any cryptocurrency that can handle more than 60 transactions per second. Regular financial transaction networks meanwhile handle thousands of transactions per second while consuming far less power (both in terms of electricity and computing power).
So you have not heard of the lightening network?
In practice, How many transactions are done on the lightning network before returning to the main network?
deleted by creator
Lightning adds a layer of complexity and additional failure points. It also centralizes power in the bitcoin network even further.
It doesn’t actually change anything about the fact that Bitcoin isn’t a currency: Despite the fact that it’s claimed to be theoretically able to handle millions of transactions per second, it only handles a few million per month or about half of all Bitcoin transactions after having been around for six years (and most transactions aren’t payments for goods or services). The vast majority of online commerce does not accept bitcoin nor any other cryptocurrency, which isn’t surprising, given that their values fluctuate wildly. Currencies need, acceptance and stability, neither of which applies to anything crypto.
deleted by creator