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Even cryptocurrency fans are starting to doubt cryptocurrencies
- jqpabc123 4y agoA central component of a working *currency* is *consensus*. Crypto has no realistic mechanism for achieving this. Allowing anyone to create their own currency is an absurd way to reach a *consensus*. Requiring the energy consumption of a small country to verify transactions is equally absurd logistically --- inadequately slow and expensive. A good thing to come out of crypto --- it helped prod the Federal Reserve to update the antiquated banking system in the USA. By mid-2023, the Fed plans to nail the coffin shut on *legal* use of crypto as an actual *currency* --- and no it doesn't involve regulating crypto. https://www.frbservices.org/financial-services/fednow/about.html https://www.frbservices.org/financial-services/fednow/about....