Re 1. The traditional banking industry does a lot (a lot!) more than moving entries in a ledger from A to B. That, in fact, is a minuscule part of what's going

Re 1. The traditional banking industry does a lot (a lot!) more than moving entries in a ledger from A to B. That, in fact, is a minuscule part of what's going on. Re 3. My rule of thumb is that crypto uses about 1% of world electricity production [1]. I'm surprised that the US has such a disproportionate high proportion of mining, indicative of cheap energy & lax regulation? [1] Note that electricity is roughly a fifth of energy production (the rest being fuel for transportation/heating).