even at full tilt, crypto is less impactful on the power industry than what the shock and horror articles would lead you to believe. comparing crypto to a small country is irrelevant, When the banking industry is purposefully left off the list. .
It would be hard to isolate the crypto equivalent part of the banking industry, if people compare people transferring fund between each other with their phone (quasi instant and quasi free now in Canada to do that between any banks), it will make crypto look has a giant waste.
If they do the other error and compare the complete modern banking system to crypto it would look more equal (how much energy would be used if tomorrow the current crypto would do 65 millions clearing house type transaction a day, 120 millions credit card type transaction a day and so on in the USA alone..., maybe it is not ready for that and would have to have a chance to grow up with that use in mind in that theorical comparison) and different crypto would have different equivalent.
Bitcoin is a big one and could replace very little of the banking system, it could replace the storage of gold industry (and the mining dedicated to gold to be stored) and negative interest giant loan and could be compared to those.
Cannot say I have ever seen a good comp, you are right.
if the article just above is right:
Bitcoin alone 120 TWH
DigitalMint COO Don Wyper, meanwhile, points out that the gold-mining industry – which produces between 2,500 to 3,000 tons of new gold every year – consumes 475 million gigajoules of electricity: equal to around 131.9 TWh. It is much more difficult to scrutinize the energy output of the banking system which encompasses brick-and-mortar branches, printing facilities, computer servers, ATMs, and transportation, though one analysis puts the figure at 140 TWh.
That would show how good and efficiency global banking would be, it is one of the biggest industry in the world a superbe machine serving many billions, same energy used than gold or bitcoin.
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