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Crypto is just a digital asset that is very damaging to the environment and it is not like fiat currency because there is no exclusive market under it.
by lanevorockz 6y ago
Crypto is just a digital asset that is very damaging to the environment and it is not like fiat currency because there is no exclusive market under it.
- wyldfire 6y ago> very damaging to the environment That's not accurate: not all cryptocoins are secured by an ever-escalating proof-of-work.
- criddell 6y agoIs it true by market value? Bitcoin itself is worth something like $200 billion. What's the biggest counter-example?
- wmf 6y agoI guess Ripple (XRP) is the biggest non-PoW blockchain at $11B. Ripple is also mired in criticisms of every kind.
- YetAnotherNick 6y agoproof-of-work is supported by value of cryptocurrency, and does not something of inherent value. Contrast this with stocks, for which trading value depends on technical analysis and is slightly random, but in the end it is supported by some concrete thing.
- worik 6y agoNo, value of stocks is independent of "technical analysis". TA does not work, except in special circumstances, and then only until the "secret" is revealed.
- bitxbitxbitcoin 6y agoProof of work provides the man hours equivalent of security for the cryptocurrency, much the way that a standing military provides the man hours equivalent of security for a centralized national currency.
- hakesdev 6y agothis "crypto is bad for the environment" meme is a zombie meme. https://www.coindesk.com/the-last-word-on-bitcoins-energy-consumption https://www.coindesk.com/the-last-word-on-bitcoins-energy-co...