this post was submitted on 09 Feb 2024
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[–] [email protected] -4 points 9 months ago (7 children)

"Research has found that bitcoin miners alone consume approximately between 60 to 125 TWh of energy annually, which is equivalent to around 0.6% of global electricity"

"Traditional banks' total annual energy consumption of traditional banks is around 26 TWh on running servers, 26 TWh on ATMs, and 87 TWh from an estimate of 600k+ branches worldwide. Totaling 139 TWh."

Not to mention banks impact on people's lives. Limited purchasing power of the poor and soon to join them middle class.. to purchase disposable products

https://www.iyops.org/post/energy-consumption-cryptocurrency-vs-traditional-banks

[–] [email protected] 11 points 9 months ago* (last edited 9 months ago)

Compare Wh vs # transactions. PoW is unsustainable and irresponsible. We need a different way.

I've always been a fan of having the USPS provide banking services to everyone. Make it a public service and it is no longer exclusionary.

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[–] [email protected] 34 points 9 months ago (10 children)

You'd think with all of the money they're pulling in, they'd invest in solar panels or something to lower their overhead.

Or am I making the mistake of approaching the situation with common sense?

[–] [email protected] 17 points 9 months ago (1 children)

It's Bitcoin, of course common sense isn't involved.

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[–] [email protected] 3 points 9 months ago (1 children)

Maybe pay off would be so far into the future that they don't want to risk it? Who knows how long crypto will be a thing.

[–] [email protected] 2 points 9 months ago

You can get solar panels for like $100-$200 on Amazon right now. Nice ones. The price of them dropped like a fucking rock since China got involved.

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