Re:Why gold and Bitcoin are popular
by im_down_w_otp on Sunday June 13, 2021 @11:05PM
(#27498854)
I've never seen an energy consumption breakdown of what it takes to run the branches of the Federal Reserve or the Treasury. Do you have any primary source material on that?
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War in Libya was initiated to prevent erosion of the US dollar as a world reserve currency among the other things. You are free to calculate how much energy went into it. I am sure there are more big energy consuming "contributions" in facilitating current financial system.
The USA dollar is the settlement currency of the world. Which means you are really looking at the energy use of the Army/Navy/Air-force. If, in this hypothetical future, BTC became the settlement record.
If you assume:
(a) the energy of the Army/Navy/Air-force supports nothing other than US currency
(b) no force would be necessary to back compliance with entries in a crypto ledger
As if BTC would somehow eliminate the army, navy and air-force.