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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I was referring to the overall power usage of each system. Traditional banking is extremely inefficient and not an engineering feat. Cryptocurrency solves a number of real problems, it's opinion if they are relevant or not.
My point is that traditional banking, as huge and bloated and unoptimized as it is, is still *much* more efficient than Bitcoin, per transaction. Of course we can and should design a system that can actually implement distributed transactions efficiently.
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Check out the
$ardor project. Proof of Stake can be the real future for cryptocurrencies. Even a Raspberry pi powered by a solar panel it's enough to actively secure the network. Bitcoin it's the first, not the better.Thanks. Twitter will use this to make your timeline better. UndoUndo
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It's also worth noting much of the energy traditional banking consumes is from paid human labor which, while not a highly efficient system, is supposed to be the whole point of socioeconomics..
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We're comparing two inefficienct systems, it is correct to point out these jobs are better suited for machines. Both will evolve.
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