Cambridge Bitcoin Electricity Consumption Index

Re:Cambridge Bitcoin Electricity Consumption Index by gambiting on Wednesday February 10, 2021 @09:04AM (#26089219)

No they don't? I frequently send large(about £50k/month) amounts of money between one EU country and UK, we always pay extra(50 euro) to have the transfer done as an express transfer and the money arrives within 60 minutes in the UK bank. Or if you don't mind doing a SEPA transfer then it's 15 minutes. And no, I was never asked to prove any source of anything, it's an invoice payment, it goes straight through.

Maybe by "international" you mean something else, but at least in the EU(and EEA and UK) transfers can be incredibly quick.

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Re:Cambridge Bitcoin Electricity Consumption Index by sneak on Wednesday February 10, 2021 @09:07AM (#26089271)

14x more people live outside of SEPA than live within it.

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Re:Cambridge Bitcoin Electricity Consumption Index by gambiting on Wednesday February 10, 2021 @09:08AM (#26089283)

And it's the biggest(by operating revenue) market in the world, what's your point?

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Re:Cambridge Bitcoin Electricity Consumption Index by sneak on Wednesday February 10, 2021 @09:20AM (#26089448)

Apologies, I thought I was being clear. A payment system that lets people transfer unlimited amounts of value to 14x more people than SEPA (presuming internet access), without censorship, irreversibly, and effectively for free, has, it seems to me, substantial value.

Even if it's less useful than, say, access to SEPA, it'd have to be 14x less valuable to break even (again, presuming internet access available to everyone, which isn't a thing yet).

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Re:Cambridge Bitcoin Electricity Consumption Index by JackFr on Wednesday February 10, 2021 @09:26AM (#26089523)

> irreversibly

People think that's a feature until they don't.

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Re:Cambridge Bitcoin Electricity Consumption Index by Hamuko on Wednesday February 10, 2021 @09:23AM (#26089483)

Does the SEPA network use >1.0 Argentina worth of electricity to operate?

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