| That's a fair statement. I'm not really even sure what the $404 trillion is after trying to look up where you were going with that (all assets globally). We should do an attempt with just US dollars. It looks like there is about $40 trillion in actual physical/digital circulation (i.e. not investments in things like crypto, buildings, stocks). Driving even an electric vehicle uses ~250-300 Wh per mile (we can round down to 250Wh). Bank of America, Chase, Wells Fargo, and Citigroup have about 738k (we can round down to 700k) employees and the average US commute is 32 miles (we can round down to 25). We'll assume ~235 days of work a year. 25 * 0.250 * 700000 * 235 = 1,028.1 TWh to commute for bank employees of the top four US banks per year Which is about 25.7 Wh / $. We can safely assume this is significantly lower than reality already since we only counted the top four US banks and rounded all of our figures down. This also doesn't count any other industry required to keep USD working (like datacenters, as referenced in the paper you linked). Edit: I'm not trying to prove you wrong or anything, I'm just genuinely curious if this "bitcoin is worse" statement is correct. |
Your calculation comes out to 1.028 TWh
1 TWh = 1,000,000,000 KWh