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Over 2 percent of the US’s electricity generation now goes to bitcoin
(arstechnica.com)
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this post was submitted on 03 Feb 2024
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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.