Comment on Over 2 percent of the US’s electricity generation now goes to bitcoin

• Sanyanov@lemmy.world ⁨1⁩ ⁨year⁩ ago

  Transactions per second

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• WaterWaiver@aussie.zone ⁨1⁩ ⁨year⁩ ago

  Transactions per second

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  • makeasnek@lemmy.ml ⁨1⁩ ⁨year⁩ ago

    Expensive is relative. It’s expensive to send a $5 transaction and pay $1 in fees. However, you can move a million dollars in value and pay that same $1 in fees. That $1 in fees can also open a lightning channel which can contain essentially infinite transactions within it. For small transactions, Lightning transactions settle in under a second for fees measured in pennies.

    Compared to a bank wire, western union, or other remittance services, $1 is an absolute steal.

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