FAQ

Every time a chain is hot waxed it is also cleaned by submersion and swishing. Conversely, when drip lube is applied to a chain it doesn't clean the inside of the chain at all, it only makes the chain wet so it attracts dirt. The dirt migrates to the inside of the chain where the result is higher friction. The inside of the chain is where almost all the friction occurs so this is important.

Most wax emulsion drip lubes say to wait overnight before riding so the carrier can for the most part evaporate, but most cyclists don't do this and in addition an emulsion lube never dries completely. On the other hand, a hot-waxed chain dries to a solid like a candle. Throw sand at a candle and it won't stick. 

There certainly are situations where a drip lube is necessary - nothing is worse from a friction perspective than running a dry chain, but for max efficiency and longevity stay with hot waxing whenever possible. Back-up chains are the solution for the vast majority of situations.