Square and Square Crypto both form Jack Dorsey, have done a lot for this space already.
Bitcoin mining farms will always look for the cheapest energy. If that is in a remote oil rig location where methane needs to be flared, or near a hydro power centre, or in a desert next to a bunch of solar panels. But yeah, if there is an excess of coalplant energy that will do as well.
I don’t really understand the hate ₿ gets for this. The existing alternatives (fiat currencies) are way more polluting, minus the dependable know inflation.
Yes I in particle hate how when I buy groceries thousands of computers worldwide have to burn electricity running trillions of wasted computations aiming to find the correct random sequence that allows the retailer to accept my $50
They are using the Bitcoin Lightning network - a layer 2 solution that uses orders of magnitude less energy than standard Bitcoin.
Based on your comment history I can see you have a habit of hating on cryptocurrencies but it would be nice if you could at least get your facts straight.
Yes it is similar to the comparison between a single driver vehicle vs 50 people in a bus except Lightning can scale massively - to Visa/MasterCard country-level scale vs 6-7 tx/sec on Bitcoin layer 1.
If you can process 1 million times as many transactions per mined block that make it an innovative scaling solution - not sure I understand the lipstick analogy. Care to elaborate?
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[ 3.2 ms ] story [ 31.9 ms ] threadBitcoin mining farms will always look for the cheapest energy. If that is in a remote oil rig location where methane needs to be flared, or near a hydro power centre, or in a desert next to a bunch of solar panels. But yeah, if there is an excess of coalplant energy that will do as well.
I don’t really understand the hate ₿ gets for this. The existing alternatives (fiat currencies) are way more polluting, minus the dependable know inflation.
Based on your comment history I can see you have a habit of hating on cryptocurrencies but it would be nice if you could at least get your facts straight.
Lightning network relies on layer 1 nodes, right? So unless it reduces the load on the old dirty Bitcoin network, it's just lipstick.
If you can process 1 million times as many transactions per mined block that make it an innovative scaling solution - not sure I understand the lipstick analogy. Care to elaborate?