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I'm not sure I buy this. If we know definitively that btc uses more energy than all of Switzerland, and we know that Switzerland doesn't spend >100% (or likely
by dmoy 9y ago
I'm not sure I buy this. If we know definitively that btc uses more energy than all of Switzerland, and we know that Switzerland doesn't spend >100% (or likely even >30%) of its energy on banking, and we know that Swiss banks clear more money than Bitcoin, then we have a reasonable point of comparison.
- daneyh 9y agoI understand what you're trying to say but this logic would only work if we knew that swiss bank operations 'based in switzerland' clear more money than bitcoin. Credit suisse/UBS main operations are in London.
- dmoy 9y agoThe domestic banking of a single small country is enough. You're talking about like 4m people getting paychecks every couple weeks at minimum. Paycheck deposits alone is more transactions than all of bitcoin. There is no way the numbers come out in bitcoins favor here, the scale just isn't there.