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Global IT outage shows dangers of cashless society, campaigners say (www.theguardian.com)

submitted 4 months ago by makeasnek@lemmy.ml to c/bitcoin@lemmy.ml

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Meanwhile, Bitcoin hasn't had a single hack or a single hour of downtime since it started 15 years ago. Decentralization is the answer.

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[–] corvi@lemm.ee 2 points 4 months ago (1 children)

Bitcoin also processes a tiny fraction of a percent of global transactions and uses a ton of power in the process. Decentralization may be the answer, but Bitcoin definitely isn’t.

[–] makeasnek@lemmy.ml -3 points 4 months ago

<1% of global energy use to process billions of value transfer every year. Lightning transactions have the energy usage equivalent of an e-mail since they don't go on chain. Main chain, via lightning and other L2 solutions, can process and secure trillions of transactions per year.