- From: Hamish MacEwan <hamish.macewan@gmail.com>
- Date: Sat, 19 Sep 2015 12:22:38 +1200
- To: Web Payments <public-webpayments@w3.org>
On 19 September 2015 at 08:20, Tao Effect contact-at-taoeffect.com |WebPayments-Hamish/public-webpayments@w3.org Mail Archives| <og0mogyket@sneakemail.com> wrote: > Cryptocurrencies do not take a lot of energy, certainly not more than fiat. > This is for several reasons: > > 1. Cryptocurrencies can use very different consensus algorithms, some that > do not rely on energy usage for example. > > 2. Even those that use energy to secure themselves, like Bitcoin, do not > take up a significant amount of energy when compared to the energy > expenditures of existing currencies like dollars (which cost a lot of energy > and *time* to create, transfer, store, etc.). "When you put it all together, these costs create an enormous burden in the U.S., where cash handling is estimated to cost $73 billion per year." Plus there's the co-generation effect, where the waste heat of mining is used for other purposes. > Greg Slepak Hamish. -- https://www.onename.io/hamishmacewan
Received on Monday, 21 September 2015 07:49:48 UTC