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bitcoin uses less resources than traditional banking. I think people should stop judging it in a vacuum and instead speak in relative terms. If energy use is a
by toolz 6y ago
bitcoin uses less resources than traditional banking. I think people should stop judging it in a vacuum and instead speak in relative terms. If energy use is a concern then fiat is the greater offender. https://bitcoinist.com/banks-consume-energy-bitcoin/ https://bitcoinist.com/banks-consume-energy-bitcoin/
further crypto would be a much more flexible domain at working towards reducing carbon emission than deeply embedded and slow changing fiat systems
- root_axis 6y agoBitcoin does not replace traditional banking even if you view it as a legitimate currency.
- bingbong123 6y agoWhy not? Do you think every financial service offered by traditional banks can't be coded and made more efficient using internet-native money (bitcoin)? If so, what services can't? People already use BTC as collateral for loans/mortgages ...which are two of the riskiest activities traditional banks engage in.
- sesuximo 6y agoBanks use way less energy per customer
- yownie 6y ago8 years vs 150 years of technology though
- bingbong123 6y agoI've walked into many semi-empty downtown brick and mortar banks with 5-10 idle employees, you want to continue paying that "innefficiency tax" in every transaction/loan/wire/credit-card/etc...? I don't think people really think through the reason there is a 20% tax on financial activity that goes through traditional banking system.