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Given that renewable energy produced is not infinite, any waste of energy can be assumed to use coal since not wasting that energy would reduce the amount of co
by amarant 3y ago
Given that renewable energy produced is not infinite, any waste of energy can be assumed to use coal since not wasting that energy would reduce the amount of coal power needed at any given moment.
Now, the above argument is only relevant if we can prove that Blockchain transactions actually are a waste of energy, and you seem to attempt to argue against that as well, by asking for a comparison with the traditional banking system.
I'm not sure that the traditional banking system add a whole uses less energy than Blockchain as a whole, but I AM sure that the traditional banking system handles several orders of magnitude more transactions than all Blockchains does combined, and absent any proof to the contrary, I'm assuming the traditional banking system is not using more than an order of magnitude more energy than Blockchain(since that would mean that traditional banks use around 23% of American energy, which is an absurd amount of energy)
As long as Blockchain uses more energy per transaction than traditional banking, it's a waste of energy, relatively speaking. And while I don't currently have any good sources to prove this point, I see very little reason to believe Blockchain isn't using at least 2 orders of magnitude more energy than traditional banking per transaction.