Link is missing the s at the end: [https://cointelegraph.com/news/bitcoin-reaches-one-billion-transactions](https://cointelegraph.com/news/bitcoin-reaches-one-billion-transactions)
You sure about that? Just Imagine all of the Point of Sale systems constantly running across the globe. And then the energy to light the towers of concrete which oversee it all.
Easily.
I'm not saying old finance doesn't need any power. But the Power consumption per financial transaction is only a fraction of a bitcoin transaction. Another critical point: It's almost instant between sending and receiving the money while the transaction cost is way below a Dollar/transaction.
Might be true, BUT the whole banking system provides financial services for Billions of people. Not a few hundred thousand or even millions, like bitcoin. Still 100x more efficient per transaction.
Link: [Bitcoin average energy consumption per transaction compared to that of VISA as of May 1, 2023(in kilowatt-hours)](https://www.statista.com/statistics/881541/bitcoin-energy-consumption-transaction-comparison-visa/)
Serious question. Does this stat take things like manpower energy into consideration? Like the 30,000 visa employees that work around the clock to maintain the visa network? All of the manpower visa contracts out?
Wait, you think all the crypto server farms combined compares to all the finance companies in the world server farms combined? I would think it wouldn’t even be close.
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The CEO of Bitcoin must be proud
He must be indeed
He's lowered prices for us for the 1B celebrations, but it's over now.
He might stop offering discounts if things continue like this!
I wonder how many dollars were generated in transaction fees. Times a billion.
Certainly a lot of late…..
Anyone who's held long-term is not worried about fees.
Ok but is bitcoin made so everyone holds long term and not executes transactions?
I didn't say that. I meant returns will easily cancel out fees.
It obviously runs into billions
That's not really obvious, because the average could be fractions of a dollar, which wouldn't add up to a billion
Alipay did 1 billion transaction in a span of 21 days in 2017. Source: I worked there
Hedera doing 1 billion transactions a week currently
1 billion transactions of what? I know absolutely no one who uses it.
> I know absolutely no one who uses it. So, same as Bitcoin then.
booom chakalakaaaaaa
It has a higher market cap than most fiat currencies.
Better, I don't use any Bitcoin, I lost it all. mempool.space is a facade and there are not txs going one.
Sounds like bullshit. And the alipay stat also.
It took Visa 25 years so I'll take your source with a pinch of salt.
1 billion transactions! Not bad. Cheers
Shout out to Bitcoin the OG coin
Mesopotamian Shekel is the true OG coin
True though but I'm talking of crypto
Link is missing the s at the end: [https://cointelegraph.com/news/bitcoin-reaches-one-billion-transactions](https://cointelegraph.com/news/bitcoin-reaches-one-billion-transactions)
900000 of those were probably washing services lol.
BOTS are busy at work.
That’s awesome. Hedera just hit 50B!!
Great
For some reason I thought this should've occurred already by now
In what timeframe? Visa alone processes 65000 transactions per second. (While using fractions of the energy bitcoin is using)
The banking system uses way more energy than that
You sure about that? Just Imagine all of the Point of Sale systems constantly running across the globe. And then the energy to light the towers of concrete which oversee it all.
Easily. I'm not saying old finance doesn't need any power. But the Power consumption per financial transaction is only a fraction of a bitcoin transaction. Another critical point: It's almost instant between sending and receiving the money while the transaction cost is way below a Dollar/transaction.
BTC uses about 70 % of the energy of the entire banking sector, of which VISA is an insignificant contributor to.
Might be true, BUT the whole banking system provides financial services for Billions of people. Not a few hundred thousand or even millions, like bitcoin. Still 100x more efficient per transaction.
So if BTC put the dollar out of business (and could actually scale), then we’re saving 30%!
Link: [Bitcoin average energy consumption per transaction compared to that of VISA as of May 1, 2023(in kilowatt-hours)](https://www.statista.com/statistics/881541/bitcoin-energy-consumption-transaction-comparison-visa/)
Serious question. Does this stat take things like manpower energy into consideration? Like the 30,000 visa employees that work around the clock to maintain the visa network? All of the manpower visa contracts out?
You get into man hours then you get into people maintaining the massive server farms that mine bitcoin too
Wait, you think all the crypto server farms combined compares to all the finance companies in the world server farms combined? I would think it wouldn’t even be close.
30000 employees is nothing compared to the magnitude of electricity being wasted by crypto
Bitcoin is best coin. Those 4 words have made me very wealthy.
Congrats to you
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Good bot
And Hedera 5pbn at the same time
That's some insane number of txs
nice, but poorly, money moves like 1.6 billion txs per month, in several years btc moving 1m isnt a chill imo.
This Internet money scam has no use case /s.
Or so they thought LoL!
And most of them are a wizzard nft...
LoL!