Of Course “Lightning Saves Electricity” is a Good Talking Point

#Bitcoin uses 1/5th of the energy traditional finance does, and second layers like the Lightning Network make sending millions of transactions at the speed of light trival.

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— Documenting Bitcoin ? (@DocumentingBTC) June 30, 2021

When the disgusting shitbag and failed, unfunny memer Elon Musk attacked Bitcoin based on the nonsensical claim that it was changing the weather, I wrote a friendly article giving him a way to explain how Bitcoin wasn’t really harmful.

In it, I noted that the Lightning Network shrinks the number of transactions, and thus saves electricity.

Elon decided not to use that talking point, and instead got in bitch fights with randos on Twitter, and still continues to attack Bitcoin, even as his own total irrelevance is becoming more and more clear by the day.

However, I am very happy to see that when Peter Van Valkenburgh appeared before Congress this week, he pointed to the Lightning Network.

Here’s another clip of Peter.

A must-watch U.S House of Representatives testimony on the ethos and strength of #Bitcoin by @Valkenburgh today. pic.twitter.com/q5aK93ovDi

— Documenting Bitcoin ? (@DocumentingBTC) June 30, 2021

Here’s the full two hour hearing (I haven’t watched the whole thing yet).

I think the government doesn’t know what’s going on, and they are going to continue to allow crypto to be mostly unregulated.

It’s too late to ban it, and regulating it doesn’t really make any sense.