[kyrieeschaton]

Did you know that vanilla financial securities also require upkeep? Approximately 0.5% of the value of all financial assets is burned every year (and potentially an order of magnitude more, depending on what asset and packaging you're talking about).

[XorNot]

That's a heck of a figure you're not providing a reference or explanation for at all. Or even an explanation of what you mean by financial securities and "burned".

[kyrieeschaton]

"Securities" is a pretty well understood term.

Mutual funds, the most legible way to get an estimate of the holding cost of securities (since they are required to transact at net asset value) routinely charge between 0.2-1% fees, depending on size and asset class.

Clearinghouses, transfer agents, and cash management firms don't work for free, which is the problem that cryptocurrencies explicitly solve; neither do compliance, KYC, fraud, etc., which most cryptocurrency protocols elide altogether.

[lupire]

It's the fee you pay to your investment manager.

[salawat]

They also have an entire corpus of regulation surrounding them and coordination overhead that allows sovereign states to compare apples to apples, and ensure that these respective sovereign State's financial systems are not utilized to facilitate patterns of behavior those respective State's citizens define as criminal.

Oh wait.. You don't want that functionality, and you're still using up the energy footprint in the event you are correct. One of these delivers significantly less versatility than the other for the same energy investment.