Quote:
Originally Posted by dino7c
People store gold, consider what it takes to get gold out of the ground then it is placed in a vault, buried in a yard, or made into a toilet
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OK, that doesn't change the fact that Bitcoin can't possibly replace the global banking system based on energy consumption, or that any comparison in regards to that would make any sense, because Bitcoin only covers a small portion of what banks do. And as I've shown, it's incredibly inefficient at processing transactions(by design, I might point out). Not only in power consumption, but also cost and speed.
If you want to argue the pointlessness of mining gold for the sole purpose of storing value(beyond it's value as an industrial metal and jewelry) and how that relates to the cost of mining a bitcoin, well that's an argument that you could make and would actually make sense. You can show the math on that one.