Crypto Downturn Sees Electricity Consumption On...

Bits of paper and coins do not require electricity to exist. Processing a bitcoin transaction consumes more than 5,000 times as much energy as using a Visa credit card, so no, the world cannot afford to use crypto. It'll have a niche but it physically cannot replace currency

Crypto downturn sees electricity consumption on...

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GOLDEN: Now Foundry is investing in mining. The downturn is making it cheaper to invest now in the hopes things rebound. Other firms are too. Goldman Sachs recently said it plans to invest millions in low-cost crypto assets. Brendler, the analyst, says he sees this moment as a sort of cleansing of weaker mining firms. 041b061a72