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It's funny, people speak as if decentralisation was a good thing, but very few bother to explain why. Typically, if you dig into it, they cite advantages that you can already get from good old permissioned distributed tech. The only thing that decentralisation gets you (at enormous cost) is that it's harder to regulate.
Compared to that for energy consumption, Bitcoin is superior really.
There's no way a fiat transfer costs that much.
This doesn't pass the sniff test. Everyone must store the full blockchain in order to verify it. So to run a full node you would have to store everyone's JSON, HTML, music, videos. Full mirroring for every node in a distributed system is about as close as you can get to the definition of doesn't scale.
A blockchain that allowed you store one song per second would be hundreds of TB before long. There are other architectures for that sort of thing for a reason.
> N^2 scaling: if every fed has to talk to every other fed to exchange messages, the number of connections will scale exponentially
No. That's quadratic growth, which is a fairly mild form of polynomial growth, which is much much much slower than exponential growth.