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by mrb 3129 days ago
Most of what you read about Bitcoin (or most advanced topics in the press) is wrong or misleading. Eg. I read articles saying a transaction consumes x kWh or energy, but in reality a transaction does not consume energy. Transaction rate and energy consumption are independent. It would be like saying each bit on a CD-ROM "consumes fuel" when it's shipped on a mail truck.

Only some high-profile individuals have labelled it a "scam", but the majority do recognize for what it truly is: a revolutionary technology and social phenomenon.
1 comments
sr_banksy 3129 days ago
Fully agree that blockchain is revolutionary technology. But why has Bitcoin captured mainstream attention and not others (say Ethereum, Litecoin etc)?

Understood about energy. I will read deeper.

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mrb 3129 days ago
Bitcoin has captured mainstream attention solely because it was the first mover.

It doesn't help that one of the most prominent energy consumption estimate is flawed: http://blog.zorinaq.com/serious-faults-in-beci/

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