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Your traditional bank account balance is stored as 1's and 0's in a database somewhere. What is the intrinsic value of those bits? Now think of how much energ
by beambot 9y ago
Your traditional bank account balance is stored as 1's and 0's in a database somewhere. What is the intrinsic value of those bits?
Now think of how much energy is "wasted" keeping all those accounts updated, the lights on at all the branch offices, etc.
- raverbashing 9y agoThe way they store the information is irrelevant. They also have regulation and mandatory checks and balances on their ability to repay current account holders. > Now think of how much energy is "wasted" keeping all those accounts updated, the lights on at all the branch offices, etc. You should do some research before making such uninformed assertion (also banks do more services than just transaction ledgering)