Now do traditional finance (spoiler its magnitudes higher energy usage)
United States | News & Politics
While I don't know the numbers, I'd guess that traditional financial systems all together probably are processing orders if magnitudes more transactions. So while a pure total energy consumption comparison is one thing it would be interesting to conpare energy consumption on a few different factors:
- total energy consumption
- energy consumption per transaction
- energy consumption per user
- energy consumption per $ amount transacted
Not saying traditional finance would come out on top, I'm legitimately curious
Wow, lots of people ITT gobbling up misinformation spread by Big Banks without thinking critically.
Did you also defend Big Tobacco when they spread misinformation that tobacco was good for you and cannabis was bad for you?
Ok, but “the amount of electricity used by the State of Washington” isn’t exactly a reliable metric. Like… it’s not a quantity people can easily hold in their minds and compare to other things. To pretty much everyone, it’s meaningless without a rather large amount of contextualization. Even this silly article fails to enumerate how much power is being used, how much power Washington State produces, or what percentage of Washington State’s power supply is consumed by crypto mining. 
washington has 7.8 million people and consumed 750,773 megawatt hours in 2022 https://www.eia.gov/electricity/state/washington/
Crypto mining globally uses more power than the country of Denmark.
Wow, shocking to are some miners using fossil fuels. Most mining is powered by renewable energy.
We really need a carbon tax.
we really need to outlaw bitcoin. its stupid
We need to ban that shit federally.
agreed
First ban banks, they use wayy more energy (much more inefficient too)