A tiny fraction by comparison, given the amount of transactions they handle per second (Visa alone handles thousands per second whereas bitcoin only does 3-7 transactions a second). Either way, I wouldn’t mind seeing the stock market and the vast amounts of effort wasted on that bullshit getting shut down.
It’s estimated the finance industry issues about 260 TWh, JUST Bitcoin alone uses 114 TWh. So Bitcoin is using a little less than half as much energy as the entire financial industry.
Bitcoin is orders of magnitude less efficient than traditional finance.
I kind of agree. To me it seems like the only real difference is the transparency. Which shows how bullshit legacy institutions are that they do what ever they can to hold onto control and remain opaque. Just be open and crypto has no advantage what so ever. But they won’t, so they will at the least through their own inability to curb their greed, allow crypto to own a space in the financial system
How much electricity goes to normal financial institutions though?
A tiny fraction by comparison, given the amount of transactions they handle per second (Visa alone handles thousands per second whereas bitcoin only does 3-7 transactions a second). Either way, I wouldn’t mind seeing the stock market and the vast amounts of effort wasted on that bullshit getting shut down.
It’s estimated the finance industry issues about 260 TWh, JUST Bitcoin alone uses 114 TWh. So Bitcoin is using a little less than half as much energy as the entire financial industry.
Bitcoin is orders of magnitude less efficient than traditional finance.
The entire “web 3.0” scam has basically been selling “databases but worse” to people who don’t know what a database is
I kind of agree. To me it seems like the only real difference is the transparency. Which shows how bullshit legacy institutions are that they do what ever they can to hold onto control and remain opaque. Just be open and crypto has no advantage what so ever. But they won’t, so they will at the least through their own inability to curb their greed, allow crypto to own a space in the financial system
Dunno but probably worth it for the amount of transactions they process.
Pay your taxes in buttcoin and I’ll tell you the answer.