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When compared to the enormous inefficiency of the global banking system, the energy consumed per transaction for crypto comes out far, far ahead. How much beef

When compared to the enormous inefficiency of the global banking system, the energy consumed per transaction for crypto comes out far, far ahead. How much beef do you have to feed the average banker per transaction?

Rescis 9y ago
> How much beef do you have to feed the average banker per transaction? How much banker do you need per transaction? With modern banking, most everything uses as few humans as possible (if not simply because they're slow). > When compared to the enormous inefficiency of the global banking system, the energy consumed per transaction for crypto comes out far, far ahead. Do you happen to have any sources for this? I wasn't able to find much after a quick google search.
dboreham 9y ago
Is this true? If so let's see some evidence. Common sense tells me it won't be true, by some orders of magnitude.
reificator 9y ago
> How much beef do you have to feed the average banker per transaction? If we had more automation and fewer banking jobs, beef consumption would go down because the former bankers would vanish into thin air?
maxerickson 9y ago
Crypto can't even do a single transaction using beef for energy.
adventured 9y ago
> When compared to the enormous inefficiency of the global banking system, the energy consumed per transaction for crypto comes out far, far ahead Visa: 3.1 billion cards; $8.9 trillion in transactions in 2016; 65,000 transactions per second capacity. Bitcoin is a very sad joke compared to just Visa. The global banking system is a marvel of efficiency by comparison. Bitcoin is consuming as much electricity as the Czech Republic or Switzerland and half as much as the Netherlands. Dollar for dollar, the global banking system is using less than 1% of the electricity that Bitcoin is.
tehlike 9y ago
Citation needed. Banking provides a number of services and employs a bunch of other peoples. Sending money from a to be is just one of the things it does.

Rescis 9y ago

> How much beef do you have to feed the average banker per transaction? How much banker do you need per transaction? With modern banking, most everything uses as few humans as possible (if not simply because they're slow). > When compared to the enormous inefficiency of the global banking system, the energy consumed per transaction for crypto comes out far, far ahead. Do you happen to have any sources for this? I wasn't able to find much after a quick google search.

dboreham 9y ago

Is this true? If so let's see some evidence. Common sense tells me it won't be true, by some orders of magnitude.

reificator 9y ago

> How much beef do you have to feed the average banker per transaction? If we had more automation and fewer banking jobs, beef consumption would go down because the former bankers would vanish into thin air?

maxerickson 9y ago

Crypto can't even do a single transaction using beef for energy.

adventured 9y ago

> When compared to the enormous inefficiency of the global banking system, the energy consumed per transaction for crypto comes out far, far ahead Visa: 3.1 billion cards; $8.9 trillion in transactions in 2016; 65,000 transactions per second capacity. Bitcoin is a very sad joke compared to just Visa. The global banking system is a marvel of efficiency by comparison. Bitcoin is consuming as much electricity as the Czech Republic or Switzerland and half as much as the Netherlands. Dollar for dollar, the global banking system is using less than 1% of the electricity that Bitcoin is.

tehlike 9y ago

Citation needed. Banking provides a number of services and employs a bunch of other peoples. Sending money from a to be is just one of the things it does.