To my understanding, the older cryptographic currencies are the energy consumers. Newer models have avoided the massive energy consumption. A.k.a Proof of Work vs Proof of Stake.
Tachikoma741
joined 1 year ago
When the Wild West was around Medicine was used as a scam too. Snake Oil salesmen aren't very nice people. But that doesn't mean medicine is a bad idea ya know?
I agree that there are a lot of snake oil sellers in the cryptographic currencies realm. But that world is basically the digital wild west at the moment to me. I too am waiting to see what happens.
Buttcoin is pretty slow. To my understanding many other coins have already evolved past Bitcoin's slow ass speed.
Well you're talking about a technology that can obsolete VISA and MasterCard and their predatory transaction fees!. There's a lot of money riding on cryptographic currencies taking off or not.
Also consider that many peoples (me) would like to move from the older cryptocurrencies that needs lots of power to run (proof of work) and try to advocate for newer proof of stake models.
To my understanding proof of stake models have dramatically lower power requirements.
I look forward to the day VISA and MASTERCARD become obsolete! Please save my aunt's small business from predatory transaction fees. ♥
Kind of the same idea as explaining how tap your card/phone or credit cards work though.
My parents do this regularly. There are many Latino American families who regularly exchange USD to PESO and vise versa.
How does this working into Foreign Exchange? This also sounds a lot like trading USD to PESO like my aunt does...
In the United States you cannot vote for the people who issue currencies. The Federal Reserve are a bunch of privately owned banks.
The government closed the gold standard at once didn't they? Who is to say they cannot not do the same and say physical paper money?