Re: Banks Consume Over Three Times More Energy Than Bitcoin!
And we forgot to consider the full resources needed by banks. Yes, banks handle more transactions than Bitcoin, but banks don't only use energy/computer power for its transactions, what about the storages needed, what about the indirect expenses. While your bankster sit down on his chair he does not pedal to produce energy, his office uses energy too, when he goes to toilets he uses energy too, the transport of money, paying the employees, emails sent, letters sent, and so, are something to take in consideration
And at this point, you would have to add also the power consumption done by exchanges, online wallets, payment gateways ASIC manufacturers, nodes,
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That's right, but on the other hand I think it's important to note that Bitcoin network doesn't need so many nodes as it has today to perform all the today's transactions and much more. I know some people think that the more transactions in the network the higher the difficulty, but that's not the case. The difficulty is rising with more miners joining the network, and although we can't forbid people mine BTC if they want to, for fairness' sake we must say that the network doesn't need so many of them. I think it's important for understanding the advantages of the blockchain technology in general.