I agree with you. That still means Bitcoin is on the hook though.
Vs. Banks. That have offices, branches, atms, data centers… banking does use more energy yearly. So why not both invest in renewables
darthfabulous42069@lemm.ee 8 months ago
Vs. Banks. That have offices, branches, atms, data centers… banking does use more energy yearly. So why not both invest in renewables
I agree with you. That still means Bitcoin is on the hook though.
stoy@lemmy.zip 8 months ago
Sure, but how much of the global financial market does crypto represent?
I susptect that the energy consomption per transaction is considerably higher for crypto than for a normal financial transaction.
orrk@lemmy.world 8 months ago
no, it is exorbitantly higher for a single crypto transaction
stoy@lemmy.zip 8 months ago
I did find some information about this, and have posted about it in the thread, and you are absolutely right about this in regards to Bitcoin, I did not find a lot of information about other crypto apart from Etherium, which claimed that the energy use of one Etherium transaction would not consume any power at all, which I doubt.
makeasnek@lemmy.ml 8 months ago
Ethereum uses proof-of-stake, there is no “mining” in a traditional sense, so its power consumption is more akin to e-mail than mining crypto. But proof-of-stake leads to centralization over time, which is antithetical to what Bitcoin people want.