Bitcoin Energy Consumption Index - Digiconomist

I do not disagree that Bitcoin, and in general blockchain solutions that use proof-of-work use a lot of energy. The graphs here tell a story. However, comparing Bitcoin to VISA is non-sensical. Bitcoin isn't a replacement for the VISA system, it is an alternative or replacement for Gold. The comparable should be to add up all the energy used to dig that shiny metal out of the earth, refine it, and make it available to the gold market. Then, when we have done that comparison also ask yourself which system you believe can be optimized and drive efficiencies into. Bitcoin wins easy over Gold. And we aren't even talking about the human side in regards to the people that have to go down into the mines and get the gold.