Snekeyes

Snekeyes , 4 months ago

Lets talk about the bank branchs, data centers, and energy consumption vs crypto.

"Research has found that bitcoin miners alone consume approximately between 60 to 125 TWh of energy annually, which is equivalent to around 0.6% of global electricity

"Traditional banks' total annual energy consumption of traditional banks is around 26 TWh on running servers, 26 TWh on ATMs, and 87 TWh from an estimate of 600k+ branches worldwide. Totaling 139 TWh."

Not to mention banks impact on people's lives. Limited purchasing power of the poor and soon to join them middle class.. to purchase disposable products. Like the old tale of buying a expensive boot vs a cheap one.

I'm all for less power usage .. but seems like a witch hunt compared to what banking gets away w. It's the the first time banks can point the finger at someone other then themselves.

https://www.iyops.org/post/energy-consumption-cryptocurrency-vs-traditional-banks

Snekeyes , 4 months ago

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

Snekeyes , 4 months ago

Yeah. 600k Branches, 1 million atms, data centers..

Snekeyes , 4 months ago

"Research has found that bitcoin miners alone consume approximately between 60 to 125 TWh of energy annually, which is equivalent to around 0.6% of global electricity"

"Traditional banks' total annual energy consumption of traditional banks is around 26 TWh on running servers, 26 TWh on ATMs, and 87 TWh from an estimate of 600k+ branches worldwide. Totaling 139 TWh."

Not to mention banks impact on people's lives. Limited purchasing power of the poor and soon to join them middle class.. to purchase disposable products

https://www.iyops.org/post/energy-consumption-cryptocurrency-vs-traditional-banks

Snekeyes , 5 months ago

I don't think that's what the article is talking about. The cart and hand scanner are different.