Bitcoin consumes 4,000,000,000 W of power to process four transactions per second. A single Raspberry Pi with a database can do an order of magnitude more on 5W. Think about that next time you wonder if it's a good design.
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References or it didn't happen :) A few of the currencies don't use mining, or use it in a much more limited fashion. Those could be better options.
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Lol, ouch *9_9* Got it. I wouldn't say they "obviously don't" in traditional banking. There are many costs much more difficult to tally than the equation above; wages of various employees (CEOs?) electricity for buildings, fuel for transporting cash, etc..
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Those are all irrelevant; banks wouldn't let you perform transactions for (much) less than $33 if their marginal cost per transaction weren't much lower. All the overhead is built in. Of course banks also do many other things which Bitcoin doesn't, too, and those have other costs
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Reference for the 4GW
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