[Bitbitcowurgh]

Bitcoin doesn't solve any problem: as soon as you do anthing offchain, bitcoin doesn't protect you.

Bitcoin doesn't gurantee that if you give someone money and exchange it for bitcoin that you will get the bitcoin. It will not guarantee that if you want to buy something, that you receive the item in the expected quality, time and condition.

The only use case for bitcoin are ON chain transactions and the only solution to this are smart contracts which also don't solve the problem because its still only for digital things and it requires the same amount of capital which doesn't make sense because rich people could block you from ever accessing your money if they want to destroy you.

Please please please please start reading up on blockchain!1 :(

[lurking15]

> as soon as you do anthing offchain, bitcoin doesn't protect you

except that most, if not all, off-chain networks are still based on-chain and have mechanisms for being a relatively secure way for exchanging day-to-day without having to settle on-chain for every transaction

[Bitbitcowurgh]

Imagine a world were someone with a private key could send money transparently to someone else by just signing the transaction publicly.

Suddenly you don't need PoW anymore. The only thing bitcoins gigantic energy consumption does is making sure there is only one central blockchain. Nothing more. And for that it needs 2% of total US Power usage...

[lurking15]

Except the whole point of bitcoin is that it's a scarce commodity enforced through power consumption (something that's a limiting factor to adversaries)

> The only thing bitcoins gigantic energy consumption does is making sure there is only one central blockchain.

which is how you constrain supply in a decentralized way with an independent time-keeping mechanism