this post was submitted on 11 Nov 2024
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Mildly Infuriating

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Yes, believable, from all the payment methods available, Greenpeace would choose the most fucking inefficient one, that wastes 700 kWh for a single transaction, that's 100 households!

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[–] hitwright@lemmy.world 6 points 1 month ago (1 children)

https://www.forbes.com/advisor/investing/cryptocurrency/bitcoins-energy-usage-explained/

I mean by somewhat more up to date news it seems like he is correct. Bitcoin is wildly inefficient and basically non scaling.

[–] PlantDadManGuy@lemmy.world 1 points 1 month ago (1 children)

He is wildly incorrect because he phrased it in an intentionally deceitful manner. It does not require 700 kilowatt hours of energy to transfer one Bitcoin one time. The verbiage quote "single transaction", is the entire problem with OPs post.

[–] hitwright@lemmy.world 0 points 1 month ago

I understand lightning network exists to somewhat reduce intermediate transactions. But the actual transaction to be written into the blockchain a lot of energy must be used to calculate the hash. Still difficult to follow you on how the number is wrong, mate.