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by AlotOfReading
1880 days ago
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We can napkin math the best case comparison for Bitcoin. According to the BLS [1], the entire financial industry employs approximately 2.6% of the US population. Bitcoin's energy consumption is about 129TWh, or ~3% of total US energy consumption. In reality, the population proportional slice of national energy consumption probably vastly overweights the finance industry's direct energy usage and the US is particularly inefficient compared to most countries in per-capita energy consumption. Not to mention, that's the entire financial system. Bitcoin only uses that to run the network, which is a miniscule portion of what the other side is handling. [1] https://www.bls.gov/iag/tgs/iag50.htm |
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