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Don't cryptocurrency transactions take a lot more time & energy than, say, a credit card transaction?
by omellet 9y ago
Don't cryptocurrency transactions take a lot more time & energy than, say, a credit card transaction?
- lawless123 9y agoYes, but it sounds cooler!
- whiskers08xmt 9y agoDepends on the cryptocurrency in question, but yes, a cryptocurrency working under a Proof-of-Work scheme like bitcoin, will use more energy than credit card systems. I'm not sure it'll ever be possible to outperform centralized, digital systems on an energy usage level. What I was critical of, was the comparison to physical money. Energy usage isn't really that important a metric for payment systems though, price is probably more relevant, where some innovations in cryptocurrency might come to be competitive with credit cards.