Bitcoin's energy consumption 'equals that of Switzerland'

Re:Bitcoin's energy consumption 'equals that of Switzerland' by tummybug on Thursday July 04, 2019 @05:59AM (#20353115)

I know the most people on here have a terrible opinion of bitcoin and cryptocurrency in general but I think a lot of the criticism based on energy usage and transactions per second is in bad faith. When you consider layers built on top of bitcoin (lightning network) this argument holds a lot less weight.

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Re:Bitcoin's energy consumption 'equals that of Switzerland' by ArthurBrussee on Thursday July 04, 2019 @06:19AM (#20353214)

If every single transaction in the world was Bitcoin it would still be a _ridicilous_ amount of energy by several orders of magnitude. It is totally, fundamentally, broken

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Re:Bitcoin's energy consumption 'equals that of Switzerland' by kerng on Thursday July 04, 2019 @06:47AM (#20353369)

Just to play devil's advocate, how much energy could be saved by closing all bank facilities and backend systems etc, in case they wouldn't be needed anymore?

Would BTC mining consume more or less energy then today's mainstream solutions?

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Re:Bitcoin's energy consumption 'equals that of Switzerland' by viraptor on Thursday July 04, 2019 @08:22AM (#20353891)

For a fair comparison, you'd have to match the current bank features first, and they're simply not available in current cryptocurrency.

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