| > Bitcoin network can work the same way using 10% of its current electricity consumption. Except by design, bitcoin miners are incentivized to consume more energy the higher the price goes. If they don't consume as much energy as they possibly can, their mining pool will have less of a chance to get that sweet, sweet block reward (....to convert back into an actual currency in order to, you know, pay their bills and stuff....) > Also, lightning network will allow for thousand times more transactions with same energy cost. If the solution to bitcoin's horrific energy consumption is to not use bitcoin.... what is the point of bitcoin? > The fact, that is is used on mining bitcoins just indicate, that people value bitcoin technology more than something else they would spend the electricity on. It is valued as a speculative asset and an excellent way to launder ill-gotten money. It's only use is for scams. Bitcoin generates a massive negative externality in that it drives up the costs of electricity for all the people who are doing actual productive things with it. The whole thing is a abhorrent waste and supporters like yourself should be absolutely ashamed of yourselves for defending it (using some of the most paper-thin arguments, I might add...). |
The lightning network IS Bitcoin, just as using HTTP over TCP is using TCP.
> The whole thing is a abhorrent waste and supporters like yourself should be absolutely ashamed of yourselves for defending it.
It's the only way to survive economically in repressive states.