Re: Cambridge Bitcoin Electricity Consumption Index - The impact of BTC in the World
Ok, now how much does the same transaction cost to buy a Tesla with fiat currency?
Now, remember to take into account that the transaction in the Banking system are processed by giant mainframes/database servers that are supported by 24/7 Air conditioning and CCTV monitoring etc.. etc..
A transaction between different Banks doubles the need for this hardware and supporting infrastructure (modems/switches/backup devices etc.)
Ok, so reconciliation and auditing are also done.. so you have people working in a Office environment that are using computers and printers and air conditioning that are consuming electricity.. (They have to drive to work / Armored vehicles transport cash / Coins have to be minted / Paper notes has to be manufactured)
Do you get the "hidden" picture into what the alternative method of payment are costing in CO2 emissions and electricity cost? (I have not even started on the manufacturing of credit cards / debit cards / ATMs / Credit card machines etc.)
Now, remember to take into account that the transaction in the Banking system are processed by giant mainframes/database servers that are supported by 24/7 Air conditioning and CCTV monitoring etc.. etc..
A transaction between different Banks doubles the need for this hardware and supporting infrastructure (modems/switches/backup devices etc.)
Ok, so reconciliation and auditing are also done.. so you have people working in a Office environment that are using computers and printers and air conditioning that are consuming electricity.. (They have to drive to work / Armored vehicles transport cash / Coins have to be minted / Paper notes has to be manufactured)
Do you get the "hidden" picture into what the alternative method of payment are costing in CO2 emissions and electricity cost? (I have not even started on the manufacturing of credit cards / debit cards / ATMs / Credit card machines etc.)