this post was submitted on 09 Feb 2024
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Sure, but how much of the global financial market does crypto represent?
I susptect that the energy consomption per transaction is considerably higher for crypto than for a normal financial transaction.
no, it is exorbitantly higher for a single crypto transaction
I did find some information about this, and have posted about it in the thread, and you are absolutely right about this in regards to Bitcoin, I did not find a lot of information about other crypto apart from Etherium, which claimed that the energy use of one Etherium transaction would not consume any power at all, which I doubt.
Ethereum uses proof-of-stake, there is no "mining" in a traditional sense, so its power consumption is more akin to e-mail than mining crypto. But proof-of-stake leads to centralization over time, which is antithetical to what Bitcoin people want.