There’s a lot of talk these days about how much electricity it takes to power the world’s most powerful supercomputer. The current NFT-craze is adding to the scrutiny of cryptocurrencies’ energy demand.
A dollar is way more efficient! Right?
It definitely takes less juice to print a dollar than to mine a block in the bitcoin blockchain. But the former provides you only with a piece of paper, while the latter is everything necessary to record and secure all transactions, store and transfer the currency.
The dollar still needs an entire system of physical and digital banks public and private, buildings, security guards, police, the FBI and secret service, wars to maintain the USD as the petrodollar and world reserve currency…
So, which consumes more energy?