$0.123 3.44%
SYS · 1w

Lets talk about the "per transaction" energy usage metric people use to talk bad about bitcoin (since syscoin uses the same POW)

I made a post in the crytpocurrency and bitcoin subreddits about this subject. The post is a seem below, I thought I would post it here to see what people thought since I mentioned syscoin: The "PER transaction" carbon, electricity and e-waste metric is such a deceitful metric. Anyone who uses it is willful ignoring that: * there are several other chains that are merge mined with the same hashpower as bitcoin (Syscoin is one of the biggest). So does syscoin have zero carbon responsibility because it uses BTC's hash in merge mining ? The authors of such metrics would like us to believe so. * There are hundreds of thousand of transactions that take place on the Lightening network. Why are the authors of these "per transaction" metrics willfully ignoring all the activity on the Lightening network ? Is it because they are to lazy to actually figure out how many transactions are taking place ? Or are they trying to push an agenda? Besides lightening network, there are other layer 2 networks, like liquid. Where thousands of transactions take place. * The current hashpower secures ALL PAST transactions. The current hashpower isnt just used to write the current transactions in a block, but its used to secure every single previous transaction in bitcoins history. * The block reward is more than just a normal transaction. The block reward can be considered as a kind of battery whereby the electricity used to make hashes is transformed into a more easily kept and stored unit. In a way, these newly created bitcoin can be considered as a form of stored electricity. The electricity used to create those bitcoins gets transformed into unit of accounts. These units then can be transformed back into electricity via purchasing power that the BTC units have. Or even more literally, they can be used to hire mechanical work from humans or other machines (using BTC to rent a generator that produces energy, or renting a solar array to charge a battery). So figuratively the block...
Continue on self.SysCoin
Recent news
No posts found