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How has he not acknowledged how expensive physical settlement between banks is? A brinks truck carrying funds between banks, the bankers managing this process,
by nahimn 6y ago
How has he not acknowledged how expensive physical settlement between banks is? A brinks truck carrying funds between banks, the bankers managing this process, all the and all of the human capital required to support the entire process?
- HideousKojima 6y agoPeople have done the math, and the carbon cost for a credit card transaction is several orders of magnitude lower than that of a single bitcoin transaction
- rawtxapp 6y agoExcept credit card transaction isn't settlement, it's a temporary transfer until it settles, more akin to lightning network. Lightning network barely uses any energy fwiw.
- nahimn 6y agoAgree -- settlement still occurs every day. And credit cards charge %, versus network fees in crypto are amount agnostic (ie: 1 million transfer vs 1 dollar transfer cost the same)