How has he not acknowledged how expensive physical settlement between banks is? A brinks truck carrying funds between banks, the bankers managing this process, all the and all of the human capital required to support the entire process?
People have done the math, and the carbon cost for a credit card transaction is several orders of magnitude lower than that of a single bitcoin transaction
Except credit card transaction isn't settlement, it's a temporary transfer until it settles, more akin to lightning network. Lightning network barely uses any energy fwiw.
Agree -- settlement still occurs every day. And credit cards charge %, versus network fees in crypto are amount agnostic (ie: 1 million transfer vs 1 dollar transfer cost the same)
