You are viewing a single thread.
View all comments View context
-7 points

Lets talk about the bank branchs, data centers, and energy consumption vs crypto.

"Research has found that bitcoin miners alone consume approximately between 60 to 125 TWh of energy annually, which is equivalent to around 0.6% of global electricity

“Traditional banks’ total annual energy consumption of traditional banks is around 26 TWh on running servers, 26 TWh on ATMs, and 87 TWh from an estimate of 600k+ branches worldwide. Totaling 139 TWh.”

Not to mention banks impact on people’s lives. Limited purchasing power of the poor and soon to join them middle class… to purchase disposable products. Like the old tale of buying a expensive boot vs a cheap one.

I’m all for less power usage … but seems like a witch hunt compared to what banking gets away w. It’s the the first time banks can point the finger at someone other then themselves.

https://www.iyops.org/post/energy-consumption-cryptocurrency-vs-traditional-banks

permalink
report
parent
reply
9 points

A system used by everybody, and a system still used by a tiny fraction of the population are using a comparable amount of energy?

permalink
report
parent
reply
7 points

hey, most of the crypto fans are all temporarily embarrassed billionaire libertarians anyway, so the bottom 99.5% can all eat shit and die

permalink
report
parent
reply
2 points

So it’s okay for crypto to consume more energy than banks because… Banks somehow limit the purchasing power of the poor?

I don’t think I’m understanding your argument.

permalink
report
parent
reply

Technology

!technology@lemmy.world

Create post

This is a most excellent place for technology news and articles.


Our Rules


  1. Follow the lemmy.world rules.
  2. Only tech related content.
  3. Be excellent to each another!
  4. Mod approved content bots can post up to 10 articles per day.
  5. Threads asking for personal tech support may be deleted.
  6. Politics threads may be removed.
  7. No memes allowed as posts, OK to post as comments.
  8. Only approved bots from the list below, to ask if your bot can be added please contact us.
  9. Check for duplicates before posting, duplicates may be removed

Approved Bots


Community stats

  • 18K

    Monthly active users

  • 12K

    Posts

  • 553K

    Comments