El Salvador has started mining Bitcoin using the renewable energy from volcanoes
@Nayib Bukele 🇸🇻: First steps...🌋#Bitcoin🇸🇻 pic.twitter.com/duhHvmEnym
@Nayib Bukele 🇸🇻: First steps...🌋#Bitcoin🇸🇻 pic.twitter.com/duhHvmEnym
That is 718 sales every second.
The Bitcoin network can process less than 5 transactions per second, while consuming almost as much energy as the entire nation of Argentina. It would take miners on the blockchain 144 days to process just 24 hours worth of sales from McDonald's.
The math only gets marginally better for Ethereum.
I feel very uncertain about how people can think that this is a viable replacement for conventional currencies and digital payment systems.
@Elon Musk: Tesla & Bitcoin pic.twitter.com/YSswJmVZhP
@Nassim Nicholas Taleb: WHAT WE WANT CRYPTO & CURRENCY FOR:1) Currency w/o a government2) Stable/reliable for contracts3) Inflation indexed store of value -- basket of items representative for me.4) Rapid transactionsCan we do it? #BTC failed to be currency, open-Ponzi speculative game. 1/n
@Mr. Whale: WTF! $7.5 Billion In Stolen #Bitcoin from the 2016 Bitfinex Hack has just been moved for the first time in 5 years. pic.twitter.com/WJJ3smY8dc
I know chat about cryptocurrency hasn't been extremely popular here in the past, but I am curious if there is enough interest now to make a group for it. I am looking for a place to discuss it from an enthusiast's perspective because Reddit is just getting a little too crazy for me.