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this post was submitted on 03 Dec 2023
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The computer power behind the financial system is literally insane. But if everything changed to Bitcoin, we would use more energy.
What COULD be beneficial would be one of the other coins out there. Doesn't have to be Bitcoin.
I guess my point had less to do with cryptocurrency and more to do with currency in general. It's not a defense of bitcoin as much as it's a critique of how much energy the system in general uses, either way.
However, it's also one that's not easily solved. Even with paper/coin money, you're still using finite resources to produce the bank-notes.
It was a bad point then, because bitcoin uses more.
Citation needed.