Note the use of the word The deliberate and heroic repetition of “settlements” led to this point. As I hope to impress you with the importance of keeping settlements and transactions separate. (This article by legendary Nic Carter is a great place to start!). Every payment is a transaction. But not all transactions are liquidated. What this means is that although Bitcoin can only make 3.5 payments per second, But the number of transactions within each payment can range from “One transaction” to hundreds of transactions through techniques such as transaction pooling.

In the second layer of Bitcoin, such as the Lightning Network or Liquid sidechain, the number of transactions per second is theoretically unlimited. New developments such as Taproot are likely to be rolled out later this year. This will make the base layer more efficient. Although not the exponential increase Musk had hoped.

Musk is good at math and calculus. And he hopes to understand the concept of limit. Therefore, he should note that while the denominator in fractions tends towards infinity, The resulting answer is close to zero. For example, Bitcoin currently uses about 116 TWh per year, assuming about 3.5 settlements per second, or about 110 million per year. If each settlement is assumed to contain only one transaction, then yes, Bitcoin will use 116,000,000 kWh / 110 million = ~1 MWh per transaction.

Considering that homes in the United States On average, 77 million British thermal units (BTUs) are consumed per year (equivalent to 22.5 MWh) in 2015, one “transaction” could power a US home. However, if you are assuming 10 transactions occur in the settlement, then your “per transaction energy consumption” will be zero as described above. It could be said that it’s just 100 kWh instead of 1 MWh. If you go further and learn about a second layer like Lightning Network, you’ll learn that the limit for transactions per settlement is theoretically infinite. Average per transaction is 116 TWh per year divided by infinity. which is closest to zero

We’ll never know exactly why Musk said and did what he did. What we can get from this point is that knowledge and the spread of facts are of the utmost importance to Bitcoin’s growth. A “genius billionaire” can easily get sucked into a lie and make a trillion dollars. of damage

This is a guest post by Hass McCook. Comments expressed are all their own. and does not necessarily reflect the opinions of BTC Inc or Bitcoin Magazine.