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A comment on Cambridge Bitcoin Electricity Consumption Index. Parent comment

Re:Cambridge Bitcoin Electricity Consumption Index by Geee on Wednesday February 10, 2021 @01:31PM (#26092984)
That comparison is flawed. Visa is not money. The purpose of mining is to protect the value of the currency.

Protecting the value of the US dollar requires a huge economy with politics and military power.

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Re:Cambridge Bitcoin Electricity Consumption Index by benlivengood on Wednesday February 10, 2021 @03:28PM (#26094298)
Visa is literally money created by issuing credit just like all the other money in the economy. No one spends specie.
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Re:Cambridge Bitcoin Electricity Consumption Index by Geee on Wednesday February 10, 2021 @04:36PM (#26095166)
It's credit that is backed by the US dollar. Similarly Visa could use Bitcoin as their base currency, and they probably will.
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Re:Cambridge Bitcoin Electricity Consumption Index by perfunctory on Wednesday February 10, 2021 @03:54PM (#26094621)
Wouldn't you eventually need military power to protect your bitcoin mining rig?
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Re:Cambridge Bitcoin Electricity Consumption Index by mateuszf on Wednesday February 10, 2021 @04:13PM (#26094908)
No if it's decentralized enough.
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