[4rgento]

If the revenue from the money transfers business is 30 billions per year and the cost of electricity is 0.12 U$D per KW/h. Then the cost, in energy terms, of the money transfer business is 250 TW/h in a year. This is a lower bound.[1]

Bitcoin miners are consuming in the order of 73TW/h[0] annually.

Let's consider those quantities equal for the next argument:

Isn't it a good thing that crypto is generating business for the energy sector? If those revenues are invested in more energy research it is favorable to human kind, isn't it?

Why deny the energy sector its business and favor the financial sector?

[0] https://digiconomist.net/bitcoin-energy-consumption [1] https://www.quora.com/How-big-is-the-international-money-tra...

[jjeaff]

>Isn't it a good thing that crypto is generating business for the energy sector?

Wouldn't it be good for the window industry and service/repair industry if we all went around town throwing rocks through windows? https://en.m.wikipedia.org/wiki/Parable_of_the_broken_window

The energy sector is primarily producing the energy in question with non-renewable resources that pollute the environment and raise costs for everyone else, disproportionately harming the poor. Not to mention rising food costs due to money grabs in the ag industry with things like corn based ethinol.

[biot]

What is the amount of money transferred per TW/h for each system?