4 ms·
It would be nice to have an estimate on how much resources would be used on the same bank transaction.
by tananaev 9y ago
It would be nice to have an estimate on how much resources would be used on the same bank transaction.
- nonbel 9y ago# kilowatt-hours per transaction # https://motherboard.vice.com/en_us/article/ywbbpm/bitcoin-mining-electricity-consumption-ethereum-energy-climate-change btc = 215 # Transactions per day tpd = 3e5 # convert btu to terawatt-hours # http://www.dvirc.org/how-much-energy-does-an-office-building-consume/ officeEnergyPerYear = 1.4e9*.293071/10^12 # https://www.usatoday.com/story/money/business/2014/10/05/24-7-wall-st-banks-with-most-branches/16648133/ nBankBranchUS = 94725 # Convert to kw-h to tw-h btcEnergyPerYear = btc*tpd*365/10^9 > btcEnergyPerYear/(officeEnergyPerYear*nBankBranchUS) [1] 0.6057412 I have no idea if the source numbers are correct, but this is a better statistic. Mining uses the same amount of energy as used for ~58k average office buildings. So the worldwide bitcoin mining energy consumption is about half of that currently used for banks only in the US. This is assuming banks are "average" (probably higher due to security concerns) and of course that banking doesn't consume energy in any other way.
- apetresc 9y agoWell, Mastercard ALONE processes well over 3.5 billion transactions per day, compared to Bitcoin's 300,000. So without knowing anything at all about how energy-efficient they are, we can say it must be many, many thousands of times better, considering that otherwise there wouldn't be enough energy on the planet to power them all.