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> Wouldn't be fair to compare the amount energy to run bitcoin vs the amount of energy to run the banking system? Hasn't this comparison been made over and ove
by 35fbe7d3d5b9 5y ago
> Wouldn't be fair to compare the amount energy to run bitcoin vs the amount of energy to run the banking system?
Hasn't this comparison been made over and over, and every time it comes out in favor of traditional banking by a mile?
- pelasaco 5y agocould you provide any link or resource for further reading? I never saw anything like that and I would like to know what they are taking into account in this comparison.
- f00zz 5y ago"One Bitcoin transaction would generate the CO2 equivalent to 706,765 swipes of a Visa credit card, according to Digiconomist’s closely-followed index, albeit with none of the convenience of plastic." https://www.bloomberg.com/opinion/articles/2021-01-26/is-bitcoin-mining-worth-the-environmental-cost https://www.bloomberg.com/opinion/articles/2021-01-26/is-bit...
- pelasaco 5y agoThank you for the link, but thats not the same thing. Try to transfer heavy money from Venezuela to Japan, being in Venezuela or from Ghana to Germany, being in Ghana, using your Visa credit card. Try to do it under 24 hours. The fastest way will be flying which can be easily more expensive and risky than bitcoin.
- imtringued 5y agoVisa doesn't use flights to transfer money so you aren't talking about the same thing. Other cryptocurrencies that use less energy can be used to transfer money to Venezuela so Bitcoin still loses against other cryptocurrencies for fringe use cases.
- imtringued 5y agoYou have to consider that Bitcoin offers nothing beyond a ledger/a bar tab. It doesn't do lending, which is the core business of banks. Sure ETH has some smart contracts do that do lending but we are talking about Bitcoin. If Bitcoin could only grow up like his little brother nobody would complain.