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r/Bitcoin
4.9m members
Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. Unlike traditional currencies such as dollars, bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. As such, it is more resistant to wild inflation and corrupt banks. With Bitcoin, you can be your own bank.
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r/CryptoCurrency
6.2m members
The leading community for cryptocurrency news, discussion, and analysis.
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r/btc
1.1m members
When r/Bitcoin moderators began censoring content and banning users they disagreed with, r/btc became a community for free and open crypto discussion. This happened long before the creation of Bitcoin Cash. Over the years /r/btc became community of historians & torchbearers, preservers of Satoshi's Bitcoin for future generations.
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r/ethereum
1.7m members
Next-generation platform for decentralised applications. Dive in at ethereum.org
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r/Bitcoin_News
4.1k members
Bitcoin News - Reddit Community dedicated for sharing and discussing news related to Bitcoin.
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r/BitcoinMining
89.5k members
The official bitcoin mining forum / subreddit / chat room / place to be!
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r/BitcoinCA
79.5k members
Let's talk about Bitcoin in Canada
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r/ethtrader
2.3m members
Welcome to /r/EthTrader, a 100% community driven sub. Here you can discuss Ethereum news, memes, investing, trading, miscellaneous market-related subjects and other relevant technology.
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r/kucoin
127k members
Find the next crypto gem on www.kucoin.com, People's Exchange.
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r/Crypto_Currency_News
238k members
News means money in the Crypto Currency world. When new coins, products or platforms are released using Bitcoin, Ethereum, Monero or any related altcoin Tokens, the price of affected products can potentially move on the news.
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r/CoinBase
227k members
Welcome to r/Coinbase!
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r/SHIBArmy
478k members
SHIBA INU (aka SHIB) is an experiment in decentralized spontaneous community building. The SHIBA ecosystem has three official coins $SHIB, $LEASH and $BONE.
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r/dogecoin
2.4m members
The most amazing place on reddit! A subreddit for sharing, discussing, hoarding and wow'ing about Dogecoins. The much wow innovative crypto-currency.
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r/cryptocurrencymemes
353k members
Welcome to CryptoCurrencyMemes! This sub is intended for the dankest cryptocurrency-related memes. Please follow the sub rules, remember to upvote and downvote, and have a good time!
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r/Monero
287k members
This is the official subreddit of Monero (XMR), a secure, private, untraceable currency that is open-source and freely available to all.
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r/CryptoMarkets
1.4m members
Crypto Market Analysis & Discussion. Demand and price, technical analysis, fundamentals, Bitcoin, Ethereum, token, volume, oscillator, RSI, stochastic, trend, trends, sentiment, strategy, coin, coinmarketcap, coingecko, messari, altcoin, blockchain.
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r/SafeMoon
296k members
SafeMoon is a human-focused technology and innovation business expanding blockchain technologies for a brighter tomorrow.
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r/CryptoCurrencies
379k members
We're Crypto Reddit's Fiji water in a desert of censorship and agendas. Arguably Reddit's best source for uncensored cryptocurrency news, technicals, education, memes and so more!
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r/Wallstreetsilver
240k members
We are a community that loves Silver, Period.
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r/technology
13.9m members
Subreddit dedicated to the news and discussions about the creation and use of technology and its surrounding issues.
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r/EscapefromTarkov
841k members
The unofficial Subreddit for Escape From Tarkov, a Hardcore FPS being created by Battlestate Games.
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r/worldnews
31.2m members
A place for major news from around the world, excluding US-internal news.
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r/news
25.9m members
The place for news articles about current events in the United States and the rest of the world. Discuss it all here.
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r/Ripple
355k members
Ripple connects banks, payment providers and digital asset exchanges via RippleNet to provide one frictionless experience to send money globally. Banks and payment providers can use the digital asset XRP to further reduce their costs and access new markets. XRP is the fastest and most scalable digital asset today.
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r/nanocurrency
121k members
Join the conversation on nano, an eco-friendly currency with ultrafast transactions and zero fees over a secure, decentralised network.
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r/bsv
2.6k members
Bitcoin as envisioned by The Fraud himself.
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r/lightningnetwork
23.0k members
Hello crypto fans! Welcome to the #1 site for Lightning Network discussions. This is an uncensored community. All discussions are allowed as long as they are on the topic of the lightning network. Moderators will remove all posts that are not related to the Lightning Network. Newbies welcome!
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r/india
1.6m members
The Official Subreddit for India
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r/BitcoinAUS
30.9k members
This subreddit is for users of Bitcoin in Australia.
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Posted by5 days ago
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Posted by11 days ago

Bitcoin can process a maximum of approximately 576,000 transactions in 24 hours. (That’s the theoretical limit — the actual limit is closer to 350k). By contrast, even a small country like New Zealand (population < 5mn) carries out some 4.4mn financial transactions a day. The EU carries out some 274 million electronic transactions a daily, while the US carries out some 600mn (that may include stock and bond settlements too, I’m not sure). In short, Bitcoin couldn’t manage as the currency for a decent-sized city.

Not to mention that Bitcoin mining already uses as much electricity as the country of Iraq and almost as much as Singapore. Each single Bitcoin transaction uses as much electricity as 13 American homes use in a day. It uses as much energy as 260,000 Visa transactions. An incredible waste of resources. (see Bitcoin Energy Consumption Index - Digiconomist )

In fact, Bitcoin mining now uses more electricity than the output of all the solar panels installed in the world. It’s single-handedly offsetting much of the progress that’s been made in de-carbonizing the global economy. It’s an ecological disaster.

Bitcoin does nothing that currently existing systems don’t do much, much more efficiently and cheaply.

Oh, and did I mention how frequently the exchanges are hacked and all the Bitcoins stolen? And that its only so-called benefit, anonymity, is actually hackable too? And why do people think that enabling tax evasion and paying for illegal acts is a benefit anyway?

Via Marshall Gittler on Twitter.

Thoughts?

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Posted by2 days ago
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331 comments