Does anyone ask Zykerberg how much electricity kikebook consumes? What goods do they produce? Bitcoin mining is inconsequential next to the power consumption of the stock market, or even the federal reserve. I hope someone points out that crypto can do the same job as the current monetary system, but more efficiently and with less energy.
Bitcoin currently uses about 121.36 terawatt hours per year, which is more then the entire country of Argentina.
The Stock Exchanges use a minuscule fraction of that.
Not if you look at the stock market holistically. There's multiple brokers and exchanges, hedge funds using supercomputers to try and get a tiny advantage over the competition. Plus, how many hundreds of thousands of people work to keep the stock market functioning and meeting regulatory requirements? And how about the cost to build and maintain the physical buildings like bank headquarters and thousands of bank branches? It's more than just electricity, it's land and raw materials that could be used for an activity that produces something.
I don't really care what traditional banks do, but my point is that if government makes crypto illegal because it consumes "too much power", they'll start shutting down other things they don't agree with also. The democrats have already tried the angle that gun manufacturing is harmful to the environment.
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