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0 sats \ 15 replies \ @momboteq OP 21 Aug 2023 \ parent \ on: Which sub should I choose? meta
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.
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 🤣) 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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Overall, Nano is such an average project. About 3 months ago, there was a big heckling on Twitter, where the only arguments were that it has very few nodes and no fees. As for the fiat value, it is very variable. Personally, I wouldn't keep a large amount of money in it, but I would use it to buy something with cryptocurrencies.
On top of that, it has a low marketcap because the projects that stand out the most are those that are related to web3.
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I personally did not buy cryptocurrencies with my money. I used to use various sites to earn cryptocurrencies and then it grew and I started investing in various things. For now, I do not plan to invest in cryptocurrencies from "my own pocket". Nano I somehow liked so much for the fact that you can nicely integrate it with various applications (I myself have a site for earning Nano)
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As for investments, I would base 30-50% of my portfolio on Bitcoin because it is more stable and secure. Despite the fact that from bull market to bull market it makes smaller and smaller movements (you can see it on the charts that circulate somewhere on the Internet) it is still an investment that will do at least x3. I would divide the next part into some other well-known cryptocurrencies such as ETH or BNB (even though they can be "printed") and others that are high on coingecko Additionally, I would invest in something related to AI because it is currently a top topic. The rest (which is only a few %) I would invest in various meme coins. I know that they are shitcoins by definition, but they can make big moves.
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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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