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Fiat currencies also take a lot of resources to create — human and computing resources (to define and create the money out of some calculations, be it a central
by AnonC 5y ago
Fiat currencies also take a lot of resources to create — human and computing resources (to define and create the money out of some calculations, be it a central bank for policy reasons or a private bank for fractional reserve banking reasons), physical elements and molecules for currency bills, infrastructure to handle electronic payments, settlements, reversals, etc. It’s all so widely distributed that people don’t think of the costs.
I have seen contrary arguments on the enormous amount of energy used to create Bitcoin. Is there a good comparison showing the real (material) costs of fiat currency vs. Bitcoin?