> Based on physics, information science and economics, we compute and compare the energy consumption and define what is the energy efficiency of both the current monetary payment system and Bitcoin cryptopayment system. We demonstrate that Bitcoin consumes 56 times less energy than the classical system, and that even at the single transaction level, a PoW transaction proves to be 1 to 5 times more energy efficient. When Bitcoin Lightning layer is compared to Instant Payment scheme, Bitcoin gains exponentially in scalability and efficiency, proving to be up to a million times more energy efficient per transaction than Instant Payments.
so when not used, it uses less than other systems when not used, but when used it uses up to the same amount of energy?
unless its a million times less, when you use resolve-it-later-bitcoin
I'm assuming they are going to be saying "if you do a million tx on lightening before closing the channel, it'll be only 1 transaction" or something?
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edit: it started going on about newton's laws, the equal and opposite reaction I had was to stop reading
Lmao. This is nothing more than ridiculous propaganda. They basically take an extremely complex problem - calculating the energy expenditure of humankind and our civilization - and cherrypick and add so many variables that they come out with a number: 56x. They're adding in ridiculous stuff like the electricity of a bank's offices and the energy of employees commuting to work. Wholly useless model and conclusion that is tailor made for some clickbait headline.
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[ 1.8 ms ] story [ 17.0 ms ] threadso when not used, it uses less than other systems when not used, but when used it uses up to the same amount of energy?
unless its a million times less, when you use resolve-it-later-bitcoin
I'm assuming they are going to be saying "if you do a million tx on lightening before closing the channel, it'll be only 1 transaction" or something?
- - -
edit: it started going on about newton's laws, the equal and opposite reaction I had was to stop reading