NYC is getting its own city coin in line with the incoming mayor's crypto hub vision

[Bernardo de La Paz]

13. Don't discard logic. That system would NOT go away if we switched completely to bitcoin

The existing financial system uses ten times the wattage of bitcoin
Never heard a peep about that though

That energy in the world financial system would be needed to trade mortgage backed securities to finance house buying and insurance and building schools and running hospitals.

It's not going to go away. Duh.


And which orifice did you pull that figure out of? Do you have a source? I very much doubt it. Hint, it's not close. It's much less than 10 times. But do you know what you are talking about?

I'll do your work for you.

It is a pittance among total world energy consumption, which is over 163 PetaWattHours per year. Bitcoin mining is 142 Twh per year. The finance industry uses about twice as much as bitcoin mining. 142 x 2 = 284 Pwh per year, or about a fifth of one percent of worldwide energy consumption.

And remember, the finance industry is needed whether it is based on bitcoins or gold or dollars. And the finance industry is vital to organizing a green response to climate change.