This seems as unlikely to be true, as it does sensationalist. Hate on Bitcoin all ya like, but don’t make off the cuff “calculations” and report it as news.
this post was submitted on 03 Dec 2023
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Doesn't the lightning network which is millions of times faster than btc alone solve this?
Crypto is entirely an extremely expensive gambling system. It serves no actual explainable purpose for the vast majority of people. It's trivially provable to be worse than existing alternatives in every way that isn't scams and or money laundering.
Just another reason to add to the already massive pile of hating crypto.
I mean, yeah, it's bad. We shouldn't be ignoring how bad bitcoin is for the environment.
But are you really gonna tell me that all the computers and CPU time that Wall Street uses for trading somehow takes less?
It doesn't matter what financial system you use, you're still burning energy to make it work.
As far as transactions, yes, something like Visa takes way less than Bitcoin. For HFT compared to crypto, who knows, but one thing they’re not doing is something intentionally wasteful like proof of work.