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by bccdee 1961 days ago
Obviously there's more infrastructure behind USD transactions than just Visa. But that doesn't change much about my initial comparison — Fedwire energy costs are low and amortize across many transactions, as is true of the rest of the infrastructure you list.

And if you want to start talking about the Fed and US imperial power, then we have to start talking about the bitcoin hype industry which exists to pump the value of various cryptocurriencies. Cruises, conferences, etc, etc. Besides, it's not as if we could get rid of US imperialism or oil extraction by switching from USD to BTC. You're just naming tangentially-related institutions with high externalities, not actual costs of USD transactions.

This is a deliberate obfuscation on the massive inefficiency in Bitcoin's transaction infrastructure. We don't need to talk about geopolitical power to talk about Bitcoin's transparent wastefulness.