Banking system consumes two times more energy than Bitcoin: Research(cointelegraph.com) |
Banking system consumes two times more energy than Bitcoin: Research(cointelegraph.com) |
[1]. https://ycharts.com/indicators/bitcoin_transactions_per_day [2]. https://www.cardrates.com/advice/number-of-credit-card-trans...
Given that BTC doesn't really add any value and consumes 1/2 that energy, it doesn't really bode well for BTC however the comparison is done.
The "research" narrowly defines Bitcoin energy consumption to include mining and node operation, but broadly defines banking industry energy usage to include even things like branch offices and ATMs.
A surprised Pikachu gif should really accompany their conclusion that the global financial industry consumes more energy the bitcoin mining and nodes.
Strangely, I think it will also reinforce the "bitcoin is a scam" position in people who hold that opinion; mostly because the article seems like on the level of those shady multilevel marketing "talking points"
What I means is that it is strange to consider an article that will change nobody's mind an inch, but may dig them in a little bit further
The other doesn't do anything.
That one uses 1/2 the energy of the other should be shocking, I don't see how this can be a good look for BTC.
The notion of tying outcomes to whoever can burn the most energy (all other things roughly equal) was really not a good idea.
The sheer vapidity of the "mining gold consumes more energy" argument bodes really badly for the intellectual honesty of the BTC proponents: At root, they actually don't care about the energy cost of the blockchain, because they don't care about it being useful, as long as their speculative gain occurs.