El Salvador President Nayib Bukele plans to introduce legislation that will make it the world's first sovereign nation to adopt bitcoin as legal tender.
yeah, it’s a ton of energy, but keep in mind that the entire btc mining operation consumes the same amount of electricity as a country like austria, and has a throughput of only a few tx per second
I also think its a confusing metric. It would be like saying the energy cost of a USD transaction is totally expenditure of energy of the US military + the cost of the bank infrastructure energy cost divided by the number of USD transaction. The block reward is essentially a defense budget. That said I would defiantly support decreasing the defense budget for all parties.
yeah, it’s a ton of energy, but keep in mind that the entire btc mining operation consumes the same amount of electricity as a country like austria, and has a throughput of only a few tx per second
Mining has nothing to do with transactions. Mining can consume huge amount of energy, but btc transaction is just a blockchain operation.
uuhm, i’m confused by what you’re trying to convey: mining is quite literally the process of processing and validating transactions…
I also think its a confusing metric. It would be like saying the energy cost of a USD transaction is totally expenditure of energy of the US military + the cost of the bank infrastructure energy cost divided by the number of USD transaction. The block reward is essentially a defense budget. That said I would defiantly support decreasing the defense budget for all parties.
There are other transaction methods (like lightning).
for sure, but how is this relevant?
There is actually no need in such energy wasting for transactions.
yes, which is why bitcoin bad, which is what I was saying in my initial comment 😅