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What's the carbon footprint of the conventional financial system?

• gamblor956 6y ago
  Just the tech parts of it? Significantly less than cryptocurrency, and it handles more than a million concurrent transactions every second, with capacity to handle loads in the tens of millions of transactions per second. Bitcoin can handle 7 transactions for second, and requires more electricity than a small country to do so.
  • maxwell 6y ago
    Thanks for the numbers. I mentioned the other day that "one of the bad things" about Bitcoin was that it consumed the energy equiv of Ireland. Then heard yesterday that it's up to Argentina. Sounded like order of mag change, and yep—🇮🇪 is about to again surpass 5M people, 🇦🇷 approaching 45M. Almost into top 30 countries.
• betterunix2 6y ago
  According to Visa's 2018 report, they consumed about 0.1TWh while processing an average of 4000 transactions per second [1]. Bitcoin consumes 121TWh per year to process 4-7 transactions per second [2]. [1] https://usa.visa.com/dam/VCOM/download/corporate-responsibility/visa-2018-corporate-responsibility-report.pdf https://usa.visa.com/dam/VCOM/download/corporate-responsibil... [2] https://cbeci.org/cbeci/comparisons https://cbeci.org/cbeci/comparisons