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> 1. There is no comparison made to the energy consumption of the traditional banking industry, which I am sure is not a particularly energy-efficient industry.
by jcranmer 3y ago
> 1. There is no comparison made to the energy consumption of the traditional banking industry, which I am sure is not a particularly energy-efficient industry.
I ran the numbers a few days ago (see https://news.ycombinator.com/item?id=39234766 https://news.ycombinator.com/item?id=39234766). Bitcoin miners plausibly use more energy than the entire traditional banking sector. Not just on a per-transaction basis (which is blindingly obvious if you think about it), but on a gross energy consumption basis.
- rightbyte 3y ago"There are 2,595,852 people employed in the Commercial Banking industry in the US as of 2023" -- Google Blackbox Content Steal So less than 1% of US pop. in banking sector. And I guess banking use less power than e.g. mining, manufacturing per worker ... Bitcoin probably uses more energy then the banking industry and their workers living their lives.