Just to put this into perspective:

The average value of a Bitcoin transaction is currently $119 and requires energy worth roughly $100 (the world average price is $0.14 per kWh).


More perspective?

The global energy consumption in 2017 was 22.3 terawatt hours.

If we moved all financial transactions over to Bitcoin, we'd require over 1000 terawatt hours... each day(!) for Bitcoin transactions alone(!).

That doesn't even factor in that Bitcoin's energy consumption will be exponential to the amount of transactions.

Still believe that Bitcoin is the future of financial transactions?

I'm sorry, but no, that's laughable.

Bitcoin and the blockchain are amazing technologies, but they don't scale for what we are currently using them for.

Yes, there are enough clueless people in the market so that you can still make a quick buck (with a bit of luck anyway), but it's just one big bubble waiting to burst - by design.

Does that mean all crypto currencies suck? No, we're working on better alternatives.

@fribbledom Yeah I don't get why BTC is still considered the gold standard. It's the slowest cryptocurrency out there. There are so many that are better in every way ... and more environmentally friendly.


I guess it's a lack of consensus, since there are so many options out there now. Do you know the differences between Bitcoin, Litecoin, Ethereum, Ripple, Tether, ...?


@fribbledom I do, because I follow crypto, but the average person probably doesn’t.

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