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I would ban crypto currencies even though I invest in them. They are driving enormous electricity usage, video card shortages, and the anonymous nature of them has lead to things on the dark web such as paying Cryptos to torture people... A co worker told me they will saw into people with circular saws and other things while they are totally conscious for crypto...
Given its mostly used by seedy people for elicit transactions, I say ban it. I hate to be the one supporting the big surveillance state though...because I think this same surveillance state could easily turn on us for thoughcrimes... But in the case of Cryptos... Let people buy gold/silver.
Almost everything in this post is not only wrong, it's backwards!
4. Proof of Work is orders of magnitude cheaper than Proof of War (Matthew Kratter) that's used to maintain the USD as the global reserve currency. Not only is it cheaper, it's more humane unless the lives of brown people don't matter.
I guess it's a testament to how early we are as, clearly, the truth is still putting on it's boots while the lies race across the world.
It is Bitcoin that uses massive electricity right now, and with that you potentially have the whole climate change audience out of your favor. A large political negative when looking at broader acceptance and adoption.
Is this electricity use temporary? And is this a problem with other cryptos?
Anyone who thinks Bitcoin takes up too much electricity has never toured a server room before. It's literally almost the same thing, except pound for pound Bitcoin drives more value for humans than just serving either as storage or for hosting/processing power for distributed applications.
It is Bitcoin that uses massive electricity right now, and with that you potentially have the whole climate change audience out of your favor. A large political negative when looking at broader acceptance and adoption.
Is this electricity use temporary? And is this a problem with other cryptos?
Bitcoin has brought about massive advancements in renewables. It keeps becoming more and more efficient.
Bitcoin dwarfs the energy use of the banking sector, the war machine and it will topple authoritarian rulers.
Ethereum will soon be Proof of Stake so there won't be any mining energy use created. The same with a lot of other chains.
The energy use is blown way out for political gain because banks push this agenda.
Bitcoin has brought about massive advancements in renewables. It keeps becoming more and more efficient.
Bitcoin dwarfs the energy use of the banking sector, the war machine and it will topple authoritarian rulers.
Ethereum will soon be Proof of Stake so there won't be any mining energy use created. The same with a lot of other chains.
The energy use is blown way out for political gain because banks push this agenda.
Once bitcoin becomes heavily controlled by the publicly traded mining companies they will create treaties and contracts including ASICs that are more power efficient that no longer compete with other mining operations. Eventually that's the end goal of bitcoin network that it becomes fully anti-competitive once each BTC becomes too difficult to extract and the supply becomes scarce.
Once bitcoin becomes heavily controlled by the publicly traded mining companies they will create treaties and contracts including ASICs that are more power efficient that no longer compete with other mining operations. Eventually that's the end goal of bitcoin network that it becomes fully anti-competitive once each BTC becomes too difficult to extract and the supply becomes scarce.
It doesn't matter, there's so little Bitcoin left to mine.
It doesn't matter, there's so little Bitcoin left to mine.
Bitcoin will never be fully mined by design. Eventually all bitcoins will be awarded in so many decimal places that it will become less rewarding to try competing with other miners.
I think BitCoin will stick around, but many many many alt coins will go the way of the Dodo Bird. Actually, many already have.
The alt coin mania reminds me a lot of the penny stock mania of the 90s. Find some mini coin, pump it, get out before it crashes or vanishes. Many many alt coins have already vanished. Poof.
Remember, Crypto is almost completely unregulated. (I take that back, it is completely unregulated) Invest at your own risk. Especially in little known alt coins.
I mine crypto and agree with some posts above that it is a real waste of energy. I’m a greedy human so continue to do so, but it blows my mind how wasteful it is. I feel bad, but f it, the planet is doomed anyway. Word of advice, don’t have kids.
I’m sure Tencent and other super pro crypto posters that literally have 100% of all their investments in crypto will argue and throw out a bunch of buzzwords about gas and fees and rails and blockchain and proof of stake and projects and and blah blah. My main point is just to say, it is very risky, but you may get lucky and make mega returns. Or, you may lose it all in a millisecond.
Edit: Just being real. Good luck!
Last edited by WhyRUMad; 10-26-2021 at 11:51 PM..
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