Comment on Wife changing money
MsPenguinette@lemmy.world 2 weeks agoCrypto does work because digital scarcity is not good enough to create meaningful value so the fall back value is the energy input into the token. And the idea something is valuable just because of the electricity used is not very compelling and will never be adopted. Bitcoins price right now is highly based on miners keeping a floor based on not wanting a loss on their current energy input. Crypto basically abstracts the concept of money so far that losing actual reasons why it works. Touch grass
The energy used has near nothing to do with value of the coin in the post. Bitcoin and Etherium are completely different in this manner.
That said, Etherium shouldn’t be taken up globally as a universal currency as it came from dirty roots like most currencys do. We need a pure untainted currency created that goes global
I just commented somewhere else in this thread, have you heard of G1/June? Crypto that’s kind of like a UBI: https://g1currency.org/?PagePrincipale
Still has some major issues from what I’ve seen, but I’m very interested in the concept.
prole@lemmy.blahaj.zone 2 weeks ago
Ethereum is proof of stake, and uses something like 99.9% less electricity than Bitcoin because of it.
Minting new coins is not tied to power use for proof of stake coins.