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> And I'm saying this as a fan of cryptocurrencies and someone who wants to see them succeed. I used to be a fan of cryptocurrencies but I stopped when I reali
by hdjjhhvvhga 5y ago
> And I'm saying this as a fan of cryptocurrencies and someone who wants to see them succeed.
I used to be a fan of cryptocurrencies but I stopped when I realized how bad the consequences are at scale. All of them involve consuming real-world resources, so basically hurt our planet. How come nobody is smart enough to invent a cryptocoin that has resource consumption several orders of magnitude lower than the current ones?
- nyhc99 5y agoIs that supposed to be a reasonable question? Why isn't anyone smart enough to invent a battery with several orders of magnitude better storage capacity than the current ones?
- hdjjhhvvhga 5y agoThis is not a good analogy since fiat currencies already offer that. It turned computing-resources-backed currencies aren't the best alternative after all.
- PretzelPirate 5y ago> How come nobody is smart enough to invent a cryptocoin that has resource consumption several orders of magnitude lower than the current ones? You should read about Proof of Stake which does reduce resource consumption by several orders of magnitude compared to large PoW chains. Proof of Stake blockchains aren’t the environmental concern that Proof of Work blockchains are.