• Snekeyes@lemmy.world
    link
    fedilink
    English
    arrow-up
    2
    arrow-down
    8
    ·
    9 months ago

    Vs. Banks. That have offices, branches, atms, data centers… banking does use more energy yearly. So why not both invest in renewables

    • stoy@lemmy.zip
      link
      fedilink
      English
      arrow-up
      4
      ·
      9 months ago

      Sure, but how much of the global financial market does crypto represent?

      I susptect that the energy consomption per transaction is considerably higher for crypto than for a normal financial transaction.

        • stoy@lemmy.zip
          link
          fedilink
          English
          arrow-up
          1
          ·
          9 months ago

          I did find some information about this, and have posted about it in the thread, and you are absolutely right about this in regards to Bitcoin, I did not find a lot of information about other crypto apart from Etherium, which claimed that the energy use of one Etherium transaction would not consume any power at all, which I doubt.

          • makeasnek@lemmy.ml
            link
            fedilink
            English
            arrow-up
            1
            ·
            9 months ago

            Ethereum uses proof-of-stake, there is no “mining” in a traditional sense, so its power consumption is more akin to e-mail than mining crypto. But proof-of-stake leads to centralization over time, which is antithetical to what Bitcoin people want.