Probably you have heard stories how Bitcoin mining is unsustainable because even now it consumes more energy than some countries. This is classic media spinning, when you take a point at one data and you hide other datas.
Yes, Bitcoin mining is consuming more power than some countries as we can see on this picture.(this is pointed data)
So media took information about Bitcoin mining and point on that like Bitcoin mining is causing environmental disaster without making comparison with similar things. Bitcoin is store of value and money so lets see comparison with Gold mining and Paper money minting.
As we can see on this picture, Bitcoin mining energy usage is a drop in a sea compared to other similar things but you can't hear that in most of media because of media spinning.
Bitcoin is developing and growing and it is threat to regular banking system so we can expect similar spinning in future for sure. Banksters will not surrender without fighting and we gonna hear many trash talking about Bitcoin like Jamie Dimon is doing.
Dough I think that Bitcoin is threat to regular banking system, I don't agree with many people from crypto space that Bitcoin will destroy banks. Banks will always be there and they will just change and adjust to new circumstances. Some Banks have already implemented Bitcoin into their portfolio and more and more Banks will follow that. I am sure that in the future all Banks will support Bitcoin.
If you ask me, why we need banks to support Bitcoin when I can hold my Bitcoin without Bank?
There will always be people who don't want to think about passwords, private keys and other staff and there is huge number of them.
Banks and Bitcoin will coexist together in my opinion but fight between them will always be there.
I would like to hear your opinion about this topic.
Regards,
