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Bitcoin currently has much lower emissions than the direct banking emissions ≈ 99.5 MTCO₂e / year (see guesstimate below), the resulting emissions from investment are an order of magnitude greater.
UK Finance sector. - 805 MTCO₂e.
Wall Street financing - 1968 MTCO₂e
UK Finance sector. - 805 MTCO₂e.
Wall Street financing - 1968 MTCO₂e
Energy per transaction of Banking system
Bitcoins energy per transaction is a statistic many of the FUD'sters like to bandy about which includes the mining (98% of Bitcoins total footprint). We do not include gold mining emissions when handing someone a gold coin so I'll similarly exclude mining. Bitcoins Average Transaction value is $100,000 - $150,000 vs $97 for Banks, so not a fair comparison as Bitcoin is doing far more work.
From a climate point of view emissions are far more important and gCO₂ per $1,000,000 is far easier to understand or gCO₂/$1M
From a climate point of view emissions are far more important and gCO₂ per $1,000,000 is far easier to understand or gCO₂/$1M
Emissions per $1,000,000 value sent
Calculations
emissions from investments
Ordinary people are forced to invest in ventures they wouldn't normally invest in because of deliberate inflation, so I think it fair to include a portion of the resultant emissions, lets say 10%.
Direct emissions 99MT + (37BTCO₂ x 10%) = 3799 MTCO₂
In the graph calculations will be shown with & without 99 & 3799 MT
CO₂ per $1M moved
Method 1
Emissions per transaction = Total emissions / Total number of transactions
99 / 687,200 = 144 gCO₂/Transaction
3799 / 687,200 = 5528 gCO₂/Transaction
gCO₂/$1M = Emissions per transaction / Average TX value x $1,000,000
=
Banking emissions per TX 144 gCO₂ / $97 = 1,485,184 gCO₂/$1M
Banking emissions per TX (inc 10%) 5,528 gCO₂ / $97 = 56,992,067 gCO₂/$1M
99 / 687,200 = 144 gCO₂/Transaction
3799 / 687,200 = 5528 gCO₂/Transaction
gCO₂/$1M = Emissions per transaction / Average TX value x $1,000,000
=
Banking emissions per TX 144 gCO₂ / $97 = 1,485,184 gCO₂/$1M
Banking emissions per TX (inc 10%) 5,528 gCO₂ / $97 = 56,992,067 gCO₂/$1M
Method 2
gCO₂ per $1M = (Banking emissions per year / Total $ Cleared )/$1,000,000
99 MT / $190 Trillion ) x 1,000,000 = 521,053 gCO₂/$1M
3799 MT / $190 Trillion ) x 1,000,000 = 19,994,737 gCO₂/$1M
99 MT / $190 Trillion ) x 1,000,000 = 521,053 gCO₂/$1M
3799 MT / $190 Trillion ) x 1,000,000 = 19,994,737 gCO₂/$1M
Method 3 (Ask Grok)
Also included is Grok's (A.I.) high and low Banking gCO₂ per dollar estimate.
10,000 - 100,000 gCO₂/$1M
10,000 - 100,000 gCO₂/$1M
Investment Emissions
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"When the final meltdown occurred in September 2008, Congress passed the Troubled Asset Relief Program (TARP), the (in)famous $700 billion bank bailout of the financial sector. The gains, it turned out, were privatized—the losses were socialized. Wall Street was pro-free market until they were in trouble. 2008 Bank Bailout: Its True Cost, and Who Paid It"
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Banking emissions
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Fortunately in the UK 🇬🇧, Europe🇪🇺 & pretty much everywhere oil isn’t gushing out of the ground - low carbon technologies are cheaper. EVs 5x more efficient have 1/6 the fuel costs & Wind & Solar are the cheapest cleanest forms of power. This may not be as obvious in the US 🇺🇸 as printed money subsidies the Fossil Fuels Industry (Bitcoin fixes this).
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Universal basic income for the rich.
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Paul Krugman, an American economist famously said "the Dollar is backed by men with Guns". Governments with printed money fund the greatest CO₂e producing entity on the planet - The Military Industrial Complex.
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Refuse to invest ! Buy Bitcoin !
What if money didn't devalue ? What if it stayed the same, or its purchasing power increased over time.
If inflation is stealing the value of your savings & pensions quite deliberately via money printing, you are effectively being fleeced or forced to invest in anything that will hold its value against inflation, or ideally give a return, usually Oil & Gas. This is great for businesses, but bad for the climate & your finances.
Most Pension's are just a series of investments that you have little control over. Most have no clue as to where their pension is even invested. It's just something deducted from their pay day.
Maybe Bitcoin is the ONLY thing that can combat the Political-Financial Complex.
If inflation is stealing the value of your savings & pensions quite deliberately via money printing, you are effectively being fleeced or forced to invest in anything that will hold its value against inflation, or ideally give a return, usually Oil & Gas. This is great for businesses, but bad for the climate & your finances.
Most Pension's are just a series of investments that you have little control over. Most have no clue as to where their pension is even invested. It's just something deducted from their pay day.
Maybe Bitcoin is the ONLY thing that can combat the Political-Financial Complex.
Money Printing
Money printing = Quantitative easing, debt restructuring, M1 money supply = Insert eye roll 🥱 switch off jargon to hide the fact that they are just printing more money.
What happened in 1933 ?
US emissions
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A - The US stopped using hard money - GOLD -
Note the acceleration of US emissions around the same time. Not all these emissions can be attributed to money printing, but debasing money allows them access to your saved wealth to expand their businesses / empires. 
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"The gold standard was abandoned due to its propensity for volatility, as well as the constraints it imposed on governments: by retaining a fixed exchange rate, governments were hamstrung in engaging in expansionary policies to, for example, reduce unemployment during economic recessions." Wikipedia
Conclusions
If Bitcoin could reduce Banking, Gold, banking investments, Military & drive #De-growth, this could drive the changes on a level required to address the climate emergency !
