this post was submitted on 09 Feb 2024
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Just 137 crypto miners use 2.3% of total U.S. power — government now requiring commercial miners to report energy consumption (www.tomshardware.com)
submitted 10 months ago by [email protected] to c/[email protected]
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[–] [email protected] 5 points 10 months ago (3 children)

"Crypto isn't backed by a government"

"CBDC is a digital form of fiat—money that is issued by central banks. It is designed to be a digital representation of the country's physical currency. Unlike cryptocurrencies like Bitcoin or Ethereum, CBDC is backed by the government and is legal tender."

CBDC is blockchain based, i.e cryptocurrency.

Japan is developing a similar cryptocurrency as well.

[–] [email protected] 5 points 10 months ago

There is no reason for CBDC to use blockchain.

[–] [email protected] 4 points 10 months ago (1 children)

I stand corrected. There is literally no functional difference between "currency" and (at least some) crypto.

[–] [email protected] 5 points 10 months ago

How much energy is required for use of each?

[–] [email protected] 3 points 10 months ago

CBDC is blockchain based, i.e cryptocurrency.

A CBDC can be blockchain based, but almost none actually will be. China's isn't. Japan's CBDC is not. In the US, the Federal Reserve is still in early stages but I'm confident it won't use blockchain either.