[davidgerard]

> Compare energy spent on global hash rate to all energy spent by mining metals, physical banking, financial services middle persons, etc. if you want to talk about energy usage and make any kind of sense.

you're ending up with the entire rest of civilisation on the other side of that

* Bitcoin, 0.5% of all energy use: 7 transactions per second total worldwide

* THE ENTIRE REST OF CIVILISATION AND EVERYONE IN IT AND EVERYTHING THEY DO, 199x the energy use, really quite a lot more than 1,393 transactions per second worldwide, and all the other stuff civilisation does too

What an amazing comparison for you to suggest.

[richrichie]

You are not comparing apples to apples. BTC is comparable to gold or US treasuries. How often do you transact in physical gold? What is time taken from a piece of gold in your pocket to cash to coffee? However, you can transact in paper gold eg the ETF GLD in microseconds with comparatively much lower transaction costs (settlement is still not immediate). How often do you transact in treasury bonds? Try paying for a coffee with your treasury bond. Let’s see how many days that takes. Comparison with USD (ultimately representing US treasuries) on number of transactions basis is not useful.

[davidgerard]

BTC is not comparable to useful things, except in the promotional posts of bitcoin fans.

[richrichie]

You are probably confusing settlement time with transaction time. Do you know how credit cards work?

[k8sagic]

So now a cryptopro tells us that bitcoin shouldn't replace the USD?

Thats so fun because apparently everyone doing bitcoin does it for a different reason.

Anyway do you believe that when the world goes down and you need your gold, you will be able to use bitcoin?