Just in case there was any doubt about how Jack Dorsey really feels about Bluesky, the former Twitter CEO has offered new details on why he left the board and deleted his account.
But energy use isn’t as simple as measuring transaction efficiency, there’s a lot more to a currency than storing who transacted with whom. There’s:
security of transactions - fraud and whatnot
coordination costs - international transactions, etc
cyber security, websites for managing money, etc
Or in terms you’ve used, someone needs to maintain that database, that database needs to be in some facility, and someone needs to audit the database. All of that is baked into cryptocurrencies. Yet the comparisons I’ve seen either account for way too much (e.g. bank tech support), or not enough (e.g. only POS and network costs).
But energy use isn’t as simple as measuring transaction efficiency, there’s a lot more to a currency than storing who transacted with whom. There’s:
Or in terms you’ve used, someone needs to maintain that database, that database needs to be in some facility, and someone needs to audit the database. All of that is baked into cryptocurrencies. Yet the comparisons I’ve seen either account for way too much (e.g. bank tech support), or not enough (e.g. only POS and network costs).