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Why Bitcoin Has (Officially) Failed as a Currency…
As a currency, Bitcoin is slow, expensive, and inefficient.
The Bitcoin network processes roughly half a million transactions per day.
And if you think that sounds like a lot. It’s not.
Because if you compare that to something like Visa:
Well Visa processes roughly 65,000 transactions every single second.
Which means Bitcoin’s entire daily transaction volume could be cleared by the Visa network in under eight seconds.
And it gets worse.
Because a single Bitcoin transaction has the carbon footprint equivalent to roughly 1.5 million Visa transactions.
And a single Bitcoin transaction consumes as much electricity as the average American household consumers over 43 days.
Which explains why Bitcoin hasn’t become a widely adopted payment system yet, because it isn’t a good one.
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