Matthew Miner's Basic-ish BlogMatthew Miner's Blog

Sometimes I might say something
Bitcoin is commonly known to those with more than a cursory knowledge of it to be a horribly inefficient product. Indeed, its very premise is to use large amounts of energy computing pointless math problems to prevent fraud without having a trusted agent verifying transactions. Yet, if you search about it's energy consumption compared to that of traditional banking, you'll just find tons of copy-and-pasted fluff pieces about how Bitcoin only uses half of much energy as traditional banking. Is this true? How can this be?

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