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what are you referring to? off chain operations don't need to spend a lot of energy to validate transactions. AFAIK globally the banking system estimated ener
by africanboy 6y ago
what are you referring to?
off chain operations don't need to spend a lot of energy to validate transactions.
AFAIK globally the banking system estimated energy consumption amounts to ~100 terrawatt of power annually
that amount includes ATMs, servers and branch offices
EDIT: I forgot how touchy people on BC threads could be.
The data on energy consumption of banking system was cited from a post of a BC advocate
Statista has published data for transaction costs of 2020
https://www.statista.com/statistics/881541/bitcoin-energy-consumption-transaction-comparison-visa/ https://www.statista.com/statistics/881541/bitcoin-energy-co...
What's interesting to me, on a human level, is the way people in the BC World keep moving the goalpost, one day they are greener because the total absolute power consumption is lower (regardless of users - I remember when in 2019 BC consumed more energy than Switzerland), then when it's not better in absolute anymore, BC is greener because is powered by renewables, like renewables were only available to BC miners, now that BC power consumption is going up (and fast) and banking is going down (slowly) it's ok, because it's the price to pay for freedom and everybody should be happy, even though they don't care about bitcoins etc. etc.
Funny, indeed.