> Bitcoin is mostly mined using excess energy, or "cheap" energy, which improves the efficiency and costs of energy production, making it surprisingly "green".
> Bitcoin requires less energy on a per-store-of-value basis than Gold and Silver.
As for
> Bitcoin requires less energy on a per-store-of-value basis than credit cards and the banking system in general.
Bitcoin supports at many orders of magnitude less transactions on the ledger than the banking systems [1] and needs 10 minutes to add a new block to the ledger [2] and ETH about 10-15 seconds[2]. In contrast, according to this [3], in 2019 there were on average 100M visa transactions in the US alone, per day, so around 5 orders of magnitude more transactions in just the States, excluding MasterCard, paypal and every other system.
Now, there are better alternatives, ETH uses proof of stake, there are also papers on proof of space [4]. Personally I'd like to move to something decentralised and away from the banks as much as possible.
> Bitcoin is mostly mined using excess energy, or "cheap" energy, which improves the efficiency and costs of energy production, making it surprisingly "green".
> Bitcoin requires less energy on a per-store-of-value basis than Gold and Silver.
As for
> Bitcoin requires less energy on a per-store-of-value basis than credit cards and the banking system in general.
Bitcoin supports at many orders of magnitude less transactions on the ledger than the banking systems [1] and needs 10 minutes to add a new block to the ledger [2] and ETH about 10-15 seconds[2]. In contrast, according to this [3], in 2019 there were on average 100M visa transactions in the US alone, per day, so around 5 orders of magnitude more transactions in just the States, excluding MasterCard, paypal and every other system.
Now, there are better alternatives, ETH uses proof of stake, there are also papers on proof of space [4]. Personally I'd like to move to something decentralised and away from the banks as much as possible.
[1] https://charts.bitcoin.com/btc/chart/transactions-per-block#...
[2] https://www.investopedia.com/terms/b/block-time-cryptocurren...
[3] https://www.cardrates.com/advice/number-of-credit-card-trans...
[4] https://en.wikipedia.org/wiki/Proof_of_space