Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: emma.lee1890 on November 05, 2018, 07:50:11 PM
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I recently read [/] "An Order-of-Magnitude Estimate of the Relative Sustainability of the Bitcoin Network" , from Hass McCook .
In this book , he made a detailed study about estimating the durability and cost of the Bitcoin network. He compares Bitcoin against the gold industry, the banking system and the production of physical currency. Bitcoin is by far the most energy efficient monetary system we have ever made !
Here are some numbers:
Banking system: 23340 million GJ (energy consumed) + 390 million T of CO²
Bitcoin mining: 3.6 million GJ (energy consumed) + 0.6 million T CO².
I know guys that it's really hard to delete these systems , and maybe not possible , I just think Bitcoin is the best system , and I just want to share my opinion , to touch a lot of people , and sensibilities them , it's important. Nowadays , a lot of people are still thinking that Bitcoin is a scam , " a bubble" , they don't know the technology , they speak before learning , they don't understand and don't want to understand.
And I want to educate these people, it's my mission , and I swear it will succeed : my goal is that people understand what is the potential of Bitcoin !
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I think if you spend that bitcoin you tell the entire network that have transferred ownership of it and use the same kew to prove that you are really you.
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bitcoin wouldn't delete the monetary system in the world, why? we can see that if there are no monetary system in the world, it will ruined all world because there are the monetary system that can't manage money in a world, crisis in many country, inflation, and many others.
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Maybe its possible for bitcoin to delete other monetary system but it will take a long time. Maybe in the future, no one knows. Yes bitcoin is efficient but some people will continue to invest in banks because they think its much safer than bitcoin. In fact, that is just an opinion so its depends on us if we are going to believe that or not.