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A comment on Bitcoin is not a Battery – it is a Sink. Parent comment

Re:Bitcoin is not a Battery – it is a Sink by MrMan on Sunday March 28, 2021 @06:00PM (#26615083)
If my bank switches to bitcoin only, I still need a bank. So the energy consumption of the new bank is bank + the banks share of bitcoin overhead, energy or other wise. Subtract the overhead of supporting the currency called dollars.

Bitcoin doesn't save me from living my life and needing financial services. I choose to transact with people I trust or intermediaries I trust.

We will still need the OTC, FDIC, SEC, the Fed the Treasury, even if it is all denominated in bitcoin.

[ Parent | on HN ]
Re:Bitcoin is not a Battery – it is a Sink by ric2b on Monday March 29, 2021 @11:25AM (#26623144)
> If my bank switches to bitcoin only, I still need a bank.

For loans and other financial products, sure.

Not for securing your money or transacting with other people or making payments to companies.

[ Parent | on HN ]