It doesn’t work as a currency. It “works” as a speculative investment in that the bubble hasn’t yet popped.
But, what if the bubble doesn’t actually pop, and the prices remain at the current levels, more or less, for another couple of decades. If that happens, will cryptocurrencies be seen to “work”?
MadBigote@lemmy.world 2 months ago
Works, as in what exactly?
Knock_Knock_Lemmy_In@lemmy.world 2 months ago
Works as a publicly shared, immutable, secure database (and small calculation) engine.
MadBigote@lemmy.world 2 months ago
Oh I see. It still consumes a lot of resources, doesn’t It?
Knock_Knock_Lemmy_In@lemmy.world 2 months ago
Yes, Bitcoin uses the electricity of Belgium.
No, Ethereum uses the electricity of a single wind turbine.
Modern blockchains are much less resource intensive.