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@ooli2@lemm.ee to World News@lemmy.mlEnglish • 4 months ago

El Salvador Abandons Bitcoin as Legal Tender After Failed Experiment

ticotimes.net

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El Salvador Abandons Bitcoin as Legal Tender After Failed Experiment

ticotimes.net

@ooli2@lemm.ee to World News@lemmy.mlEnglish • 4 months ago
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  • Dessalines
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    17•4 months ago

    Not the greatest idea to transition to a currency where every single transaction requires the same amount of energy to power a mansion for a week.

    • @nexguy@lemmy.world
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      12•
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      4 months ago

      Not promoting just saying that this is misinformation. Transactions are done in bulk and on the lightning network at a tiny fraction of what you suggest.

      Edit: BTC itself can only process 8 or so transactions per second(hence the high energy demand per transaction), the actual number of monetary lightening network transactions (grouped up into a these large BTC transactions) is close to a million.

    • Cowbee [he/they]
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      9•4 months ago

      Didn’t know it was that bad. Knew it was bad, but that’s depressingly bad.

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