My name is Lee May Nikoletos, for five years, I worked at the Toronto, Ontaro, Canada, Rogers Centre Sports Dome (formerly Skydome) while in University in the 80's. Specifically, I was a private box hostess for Citibank, but not employed by them. It was a privilege to meet banking exectives and their prospective clients.
What it does
This video speaks of expenses incurred by our banks. Not only do our banks use pricey real estate but there are inherent costs of energy and maintenance expenses. Banks use a centralized, private network for transactions: this too is costly in many ways including energy and infrastructure costs. Beyond the energy and infrastructure expenditures, there are costs to employ people and provide benefits. I am an advocate for paying fair wages and benefits: I'm simply pointing out that there are costs asociated with our known, trusted banking system. Now, that Bitcoin is established and ever so quickly becoming more trusted...it's network and mining costs compared to traditional banking costs appear actually lower.
How I built it
Challenges I ran into
Countries need to regulate priorities to reduce use of non-renewable energy.
Accomplishments that I'm proud of
Pointing out that costs like box rentals at Major League Baseball games are quite expensive to banking and then there are many other luxury expenses.
What I learned
Doing research, I discovered that, approximately, 70% of Bitcoin mining takes place in China. Also discovered, if Bitcoin moves to Proof of Stake, less energy will be consumed in computations.
What's next for What Bitcoin is Not - Growth Hack Video Commercial
To promote miners towards areas using renewable energy sources.
To convince the Bitcoin world to move to Proof of Stake to save energy.