Re:
Bitcoin now uses more electricity than Argentina At that rate and assuming 4tx per second a single Bitcoin transaction consumes 165kWh. A Tesla battery is bit over 50kWh. So let's round that to 3 full charges of Tesla battery.
That's 350km/220 miles of range per charge. In total 1050km or 660 miles of driving.
So basically if you want to transfer money and the recipient is closer than 660 miles from you it's more efficient to just get a bunch of bills, drive there with a Tesla rather than send a Bitcoin transaction. Or alternatively 330 miles roundtrip. For each single transaction.
It is hilariously inefficient system. It is literally better to drive a full car and give things physically than use Bitcoin.
A small addenum: Visa apparently uses 146kWh for 100000 transactions. Coming at 1.46wH per transaction. That can drive a Tesla for 9 meters (0.4 seconds of driving at 80km/h) or alternatively keep a nice led lamp lit for an hour. And that includes everything the company does, not just the actual transaction but the upkeep of their offices etc divided by the amount of transactions they perform per year.
EDIT:
Apparently on 2020 it was 741kWh per transaction in practice and/or I made a tiny error in my calculation. Either way it's even better!
https://www.statista.com/statistics/881541/bitcoin-energy-consumption-transaction-comparison-visa/That simply increases the ranges so that it becomes a 3600 mile trip. Or 1800 mile roundtrip.
sharpneli,
2 hours ago