https://www.bloomberg.com/opinion/articles/2021-01-26/is-bitcoin-mining-worth-the-environmental-cost
But these arguments ring hollow. Cheap power usually comes with other costs. Consider recent power blackouts in Iran that were blamed on Bitcoin. Even Ray Dillinger, part of the early digital-cash movement that spawned cryptocurrencies, recently said Bitcoin had wasted “enormous resources of energy” on the back of taxpayer-subsidized electricity with the encouragement of exactly the sort of authoritarian governments it claimed to fight against. A 2020 paper by academics at Dublin City University, Trinity College Dublin and University of Southampton found cryptocurrency trading appeared to have influence on the pricing in large electricity and utilities markets.
I WARNED YOU. DON'T BUY BITCOIN.
Security is essential in a decentralized peer to peer network. There's no linear correlation like in traditional centralized systems so comparing to VISA is just BS. When VISA want to process twice as many transactions, they need to have twice as many servers, that means twice as much electricity consumption.
Got it? good, then there's the banks, they got servers too, massive office buildings, workers, diesel powered armored vans to transport cash and gold. All of this then relies on blind trust in the central authority, which they abuse because they're globalists.
Bitcoin on the other hand only really need the nodes, transactions doesn't take massive amount of energy to process. 12,000 nodes could run on as little as 36kW, assuming they're all one-card rpi computers. That's enough to hold the chain and process transactions.
The mining part is what consumes most energy, you don't need more than yet another rpi 3W computer to do all the mining, no matter how many transactions goes through the network. The problem is trust however, if that was the case, anyone could spin up two 3W rpi computers, and thereby take control over the network. This is why mining is needed. To protect the integrity without relying on any central authority.
Of course there's other ways to do this as well, most of them consuming less energy as well. But don't use this as an argument to stay with the big banks, where you'll be forced to bend over for the globalists all the time if you want to keep your own money.
It will be the new system of control.
If you can be banned from Twitter and YouTube - Your servers and pay systems can drop you - all for how you speak or act; then your entire monetary system can be erased by clicking a check box.
Yeah, yeah, blockchain. We were told a bunch of shit about 'true free speech' as well to buy into these systems.