1/ @Excellion: “The #bitcoin is bad for the environment narrative has been lurking around for some time. More recently it has come to prominence because of bitcoin’s rise in prominence. This brings along all FUD; Tether, Mining etc.
2/ the reason why #bitcoin mining is a target for this FUD is because it’s so easy to calculate the energy consumption of the network because it’s transparent. You can see how many THs it is, you can calculate how many machines there are, and how much electricity it would consume
3/ whereas with the traditional financial system you have a very opaque layer over everything. You just don’t know how much it costs to produce and transport cash from production to bank vaults, atms etc. And how much energy the banking system consumes with data centres,
4/ offices and bank branches, physical security. It’s a tonne of things that are involved in the operational of the legacy financial system that are not easy to calculate so #bitcoin’s transparency makes it a much easier target.” - @Excellion paraphrased
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