Post
Topic
Board Development & Technical Discussion
Re: Is there any research being done to make the blockchain less energy consuming?
by
Euro1000
on 19/11/2017, 12:35:33 UTC
According to the ECB the total cost of fiat money production, fiat money storage and fiat money transportation are
roughly 1 % of the total economic output of the European union each year, which equates to roughly 140 billion € at the moment.

Thank you for this.

So, for this part of FIAT (only for EUR) they (or we?) pay 1.4 bln €

According to https://digiconomist.net/bitcoin-energy-consumption the global mining costs are $1.433 bln USD.

I know you cannot compare costs with energy directly but if you take into account that we talking about only a part of the FIAT energy costs and this only for EUR, it could turn out that BTC uses less energy than FIAT ...