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0 sats \ 22 replies \ @momboteq OP 21 Aug 2023 \ parent \ on: Which sub should I choose? meta
You're talking about tokens and I'm talking about cryptocurrencies NOT TOKENS.
PoW is not environmentally friendly, which is why it is being abandoned in favor of something greener. E.g. Nano has PoW, but it is so undemanding that it can send thousands of transactions using the power that 1 Bitcoin transaction needs.
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Of course, I am talking about PoW such as in Bitcoin. There are cryptocurrencies that have a lighter and less energy-intensive PoW.
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Okay, I also understand your opinion. I, however, prefer something less energy-intensive because currently most of the world's energy is from burning coal, which is not environmentally friendly. Currently our planet is already destroyed by the development of technology. Just so you know, I'm not some eco freak or somethingš
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last time I checked, bitcoin used 0.5% of total global energy output and 60% of it comes from renewable sources, a lot higher than other industries. imo, bitcoin's PoW is the least of our problems if not even part of the solution
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The source of energy depends on the people who mine Bitcoin.
Of course, this does not change the fact that there are other cryptos that use PoW and consume much less energy.
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Of course, this does not change the fact that there are other cryptos that use PoW and consume much less energy.
and are thus vastly less secure and most probably need to use ASIC-resistant algorithms like Monero which is the real waste of energy since ASICs are a lot more energy-efficient.
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And we have such a Nano (yes I know I keep talking about it even I don't know myself why š¤£) which has such a light PoW that it doesn't need miners who will confirm transactions. Each wallet "mines" its own transactions. Their algorithm is super lightweight. Several hundred thousand Nano transactions = 1 Bitcoin transaction in terms of energy consumption. Just because it uses a lighter algorithm doesn't mean the blockchain is breakable. If that were the case, most of these types of solutions would no longer exist.
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A heavier PoW does not mean that my funds are safe. The SHA-256 that Bitcoin uses is not Quantum Resistant, which makes it possible to break the blockchain and PoW means nothing here.
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