How Bitcoin (BTC) is 10,000 Times More Efficient Than Banks

In an earlier post, we had explored the possibility of the electric car company of Tesla accepting Bitcoin (BTC) and other cryptocurrencies as a way for customers to purchase the revolutionary eco-friendly vehicles. We had also observed that Bitcoin energy consumption had not been properly analyzed and compared to the entire spectrum of traditional banking and financial activities.

We had briefly mentioned that the total energy consumption from banking operations and the process of printing/minting money, probably eclipsed that of BTC by a large percentage. By guesstimating the amount of machines and moving parts involved in the money printing/minting process, we had a feeling that paper money consumed more energy to create. There was also the aspect of maintaining operations at all banking offices and branches across the globe – this includes lighting, running computers and other machines, ATM operations, just to name a few.

A Better Way of Measuring the Environmental Impact of…