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>A single bitcoin transaction (amortized) uses as much electricity as an entire house uses (on average) in more than 2 days. That could be true, but how much e
by NullPrefix 6y ago
>A single bitcoin transaction (amortized) uses as much electricity as an entire house uses (on average) in more than 2 days.
That could be true, but how much energy does the finance world consumes through all the quantitative easings and other shenanigans? I doubt it's even possible to burn that worth of energy in electricity.
- godlikeNoob 6y agoquantitative easing -> Needed to ward off a recession as seen fit by most of the economists ... Not saying it's efficient / needed, can't say anything for sure since I am a lowly dev and not a world class economist This whole concept of bitcoin having value just because it's finite is asinine ... The whole world used gold standard and there was a reason the US and other nations got rid of it after WWI. Comparing bitcoin's energy usage to traditional financial systems makes zero sense, mainly because traditional financial systems have a much bigger purpose. I'll never buy any goods or services with my bitcoin because of the upside potential and I'll never accept payments in bitcoin because of the downside risk.
- UncleMeat 6y agoBTC replaces currency and currency transmission. It does not replace all financial systems or policy. If you just compare what BTC does, it does it like five orders of magnitude less efficiently.