A New Study - Bitcoin is 56x more energy Efficient than Traditional Banks - page 2.

Pumared

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Quote from: fennic on October 01, 2022, 10:58:30 PM

"We demonstrate Bitcoin consumes 56X less energy than the classical system. When Lightning is compared to Instant Payments, Bitcoin gains exponentially in scalability & efficiency, proving to be up to a million times more energy efficient per transaction."

- Source of article, that might helpful to some users to get knowledge too
https://twitter.com/lopp/status/1537440210203553792

I am seeing that only Bigger members like hero or legendary members are giving merits each other, not to newbies or other such people. I was hoping that people who have best and good post might get merit but that's not the case 😁

Sharing news will generate merits for you, if it does, it will be very little. Try to create your own opinion based on sources and at the end cite them. In my view, this is a way where you learn and still manage to pass your vision and knowledge to several people.

Regarding the topic, even saving energy, the number of bank transactions is several times higher than that of Bitcoin. So this big expense is justifiable.

Raflesia

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_""""Duelbits""""_

It seems that in this case you are only fixated on merit, not on quality posts.
You need to understand that indeed pasting something but without a clear source and only half of it is not something of a quality friend Grin

Quote from: fennic on October 01, 2022, 10:58:30 PM

I am seeing that only Bigger members like hero or legendary members are giving merits each other, not to newbies or other such people. I was hoping that people who have best and good post might get merit but that's not the case 😁

From what you just said it actually explains what you mean by creating this thread for. Just because bringing in bitcoins with the paste results without providing a completely valid source and ending with a sentence like this is really not a good thing in my opinion.

Anonylz

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Quote from: fennic on October 01, 2022, 10:58:30 PM

"We demonstrate Bitcoin consumes 56X less energy than the classical system. When Lightning is compared to Instant Payments, Bitcoin gains exponentially in scalability & efficiency, proving to be up to a million times more energy efficient per transaction."

Such posts should be accompanied by the source link, some forum members like to check the source of the content to ensure its authenticity. That being said, btc has been castigated for high energy consumption and bad to the environment severally for a long time but if some new study is out to counter such claims, it will be good for btc and the entire crypto community but unfortunately, I doubt the btc haters would find this new study any relevant.

Quote from: fennic on October 01, 2022, 10:58:30 PM

I am seeing that only Bigger members like hero or legendary members are giving merits each other, not to newbies or other such people. I was hoping that people who have best and good post might get merit but that's not the case 😁

You should focus more on providing good and quality posts than merit even though i know it is important to help you grow in rank, but once you post something worthy of being merited, am sure you will be merited.

jackg

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https://bit.ly/387FXHi lightning theory

Quote from: Tytanowy Janusz on October 02, 2022, 01:27:49 AM

Quote from: fennic on October 01, 2022, 10:58:30 PM

"We demonstrate Bitcoin consumes 56X less energy than the classical system. When Lightning is compared to Instant Payments, Bitcoin gains exponentially in scalability & efficiency, proving to be up to a million times more energy efficient per transaction."

Source of article is needed in OP.

I found it! https://twitter.com/lopp/status/1537440210203553792

(there's others but I don't have seen that name before so I'll share there's).

I've found research papers that point at its efficiency being higher and I wouldn't doubt that either. Especially if bitcoin's inflation drops and the price stabilises. Computers consume power even if they're idle, if these are used in companies to handle the burden of lighting payments then they'll still consume about the same amount of energy and will be contributing to the network for free (same goes for normal computers that are lighting enabled).

KennyR

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DGbet.fun - Crypto Sportsbook

With banking, the ATMs itself will cost big in energy consumption. At present the available number of the cryptocurrency ATMs in comparison to the traditional banking ATMs were very low in number. A small Bank branch have got atleast 5 to 10 computers. There'll be energy consumption variation, but the organisation that keep on mentioning bitcoin is against the go green process. Even with statistical and real-time data they never believe in it.

Tytanowy Janusz

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Quote from: fennic on October 01, 2022, 10:58:30 PM

I am seeing that only Bigger members like hero or legendary members are giving merits each other, not to newbies or other such people. I was hoping that people who have best and good post might get merit but that's not the case 😁

Was thinking the same in 2018 when I created my account. As you can see I was wrong and my account is far from having 0 merits. Just continue to create good content it will be here for ever. Some of my posts are getting merits half year after they were created.

People don't have much of them. As franky1 said - post have to be special. if i read like 50 posts a day and I have like 1 merit to give... do not feel offended it wasn't your post.

Quote from: fennic on October 01, 2022, 10:58:30 PM

"We demonstrate Bitcoin consumes 56X less energy than the classical system. When Lightning is compared to Instant Payments, Bitcoin gains exponentially in scalability & efficiency, proving to be up to a million times more energy efficient per transaction."

Source of article is needed in OP. Number are devastating. And yet people will continue to fud that bitcoin will be banned because of carbon footprint while its 56x better than its main competitor. Bitcoin is more eco-friendly than PC gaming -

Quote from: Tytanowy Janusz on September 10, 2022, 12:45:39 AM

Let's ban bitcoin mining ... meanwhile new graphic cards made for gamers are about to hit the roof with power consumption GeForce RTX 4000 “Lovelace“ power draw might exceed 800 W. Just to run AAA game with 4k in 60 fps. Why not ban gaming? why not allow minesweeper and solitaire only as the most eco-friendly games?

"Based on our very rough estimates, we found that the worldwide electricity consumption of people playing video games is 46% higher than the total consumption of Bitcoin mining as of November 2019."
https://braiins.com/blog/bitcoin-mining-vs-gaming

What about warm baths? We can all take cold baths. Its even healthier for us. I bet that warm baths worldwide consume more energy than bitcoin.

I'm just kidding with all this, but I want to show only how much hypocrisy we live in that elites can ban/limit everything they want only because it does not fit their narrative. I don't understand why bitcoin is treated differently from others. Its only a customer of companies producing and selling electricity. It's their fault that energy they produce is dirty. Just like gamers are customers only, just like every single one of us is. No one check what percentage of your gaming PC energy consumption is made from renewables. No one force to buy and run 1 solar panel unit for every GTX 1060 or stronger GPU you have.

Kakmakr

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Quote from: fennic on October 01, 2022, 10:58:30 PM

"We demonstrate Bitcoin consumes 56X less energy than the classical system. When Lightning is compared to Instant Payments, Bitcoin gains exponentially in scalability & efficiency, proving to be up to a million times more energy efficient per transaction."

I am seeing that only Bigger members like hero or legendary members are giving merits each other, not to newbies or other such people. I was hoping that people who have best and good post might get merit but that's not the case 😁

When someone post a half-ass thread like this, without the source for their information and then complain about "Merit" .... I have to respond. Roll Eyes

Have you ever scrutinized the post that are getting "Merit" and learnt from that?

This would have been a "great" post, if you did it properly, because it is a "hot" topic in the community and everyone are waiting for someone to do proper research on the energy usage of Banks vs energy usage of Crypto currencies.

Try again... and do some proper research and discussion... then you might get some "Merit" for it.

mk4

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Quote from: fennic on October 01, 2022, 10:58:30 PM

I am seeing that only Bigger members like hero or legendary members are giving merits each other, not to newbies or other such people. I was hoping that people who have best and good post might get merit but that's not the case 😁

Posting a quote even without the source is a "good post" now? Lmao.

Also, there's a reason why most high ranks have high ranks in the first place — because most of them deserved the merits.

franky1

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most people give merits if someone say something enlightening, a light bulb moment that inspires the community and makes everyone a little bit brighter.something unique and interesting and worthy.

just linking an article well, talking about an article without even linking it is not worthy of merit

also merit is not that important

AnotherAlt

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Quote from: acroman08 on October 01, 2022, 11:55:05 PM

I suggest sharing the article where you took this information so people who might be interested in the story can read it in full, and also to prevent your account from getting banned due to plagiarism.

The source of his post is this: https://cryptoslate.com/bitcoin-uses-56-times-less-energy-than-classical-system/. I would request OP to Edit his post and add the source of his post to get rid of getting banned.

Quote from: fennic on October 01, 2022, 10:58:30 PM

I am seeing that only Bigger members like hero or legendary members are giving merits each other, not to newbies or other such people. I was hoping that people who have best and good post might get merit but that's not the case 😁

Almost 90% of newbies have the same thought as yours. Look at my Rank. I am not a hero member or a Legendary. I am a full member and I am getting merits from others. I wouldn't say my post quality is good. But, Try to post something helpful and informative or write something interesting that is worth reading. Don't do Copy-paste, or you will find yourself banned.

acroman08

legendary

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Merit: 1115

I suggest sharing the article where you took this information so people who might be interested in the story can read it in full, and also to prevent your account from getting banned due to plagiarism.

Quote from: fennic on October 01, 2022, 10:58:30 PM

I am seeing that only Bigger members like hero or legendary members are giving merits each other, not to newbies or other such people. I was hoping that people who have best and good post might get merit but that's not the case 😁

if you actually paid attention high ranking members are giving merits to any ranks that they think to deserve it. what you might consider "best" or "good" might not be the best or good for other members. if you want merit, do better, quoting or sharing a link from an article won't get you one(unless someone found it extremely helpful and decided to give you merit)

fennic

member

Activity: 126

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"We demonstrate Bitcoin consumes 56X less energy than the classical system. When Lightning is compared to Instant Payments, Bitcoin gains exponentially in scalability & efficiency, proving to be up to a million times more energy efficient per transaction."

- Source of article, that might helpful to some users to get knowledge too
https://twitter.com/lopp/status/1537440210203553792

Topic: A New Study - Bitcoin is 56x more energy Efficient than Traditional Banks - page 2. (Read 468 times)