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Just 137 crypto miners use 2.3% of total U.S. power — government now requiring commercial miners to report energy consumption (www.tomshardware.com)

submitted 9 months ago by misk@sopuli.xyz to c/technology@lemmy.world

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[–] stoy@lemmy.zip 4 points 9 months ago (3 children)

Sure, but how much of the global financial market does crypto represent?

I susptect that the energy consomption per transaction is considerably higher for crypto than for a normal financial transaction.

[–] orrk@lemmy.world 3 points 9 months ago (2 children)

no, it is exorbitantly higher for a single crypto transaction

[–] stoy@lemmy.zip 1 points 9 months ago (1 children)

I did find some information about this, and have posted about it in the thread, and you are absolutely right about this in regards to Bitcoin, I did not find a lot of information about other crypto apart from Etherium, which claimed that the energy use of one Etherium transaction would not consume any power at all, which I doubt.

[–] makeasnek@lemmy.ml 1 points 9 months ago

Ethereum uses proof-of-stake, there is no "mining" in a traditional sense, so its power consumption is more akin to e-mail than mining crypto. But proof-of-stake leads to centralization over time, which is antithetical to what Bitcoin people want.