Lol, yeah sure. Just buy the dip and no one gets hurt*
Comment on I will...
imperious_melange@lemmy.zip 2 months ago
Wasn’t the point of crypto to actually be used as a currency?
SolacefromSilence@fedia.io 2 months ago
imperious_melange@lemmy.zip 2 months ago
I mean there have been a few use cases beyond illegal business.
FiniteBanjo@feddit.online 2 months ago
Yeah, it being built upon a decentralized multiple transaction-ledger means that no singular nation’s treasury has control over its value. It’s also actually great for law enforcement because removing a transaction from the history is incredibly difficult, places that offer “private” transactions just create thousands of fake transactions to hide the real one inside, but the evidence still exists.
One of the largest BTC owners on earth is the USA’s FBI who have confiscated tons of the stuff used in illegal activity.
Allero@lemmy.today 2 months ago
On Ethereum using less: this is due to a different consensus mechanism involved, one that is more eco-friendly, but less distributed and inherently (mathematically) less secure.
Generally, it should be fine on the scale of Ethereum, but Bitcoin has it safer, at the cost of plenty of power and e-waste.
Knock_Knock_Lemmy_In@lemmy.world 2 months ago
Allero@lemmy.today 2 months ago
That same 51% attack can occur on Proof-of-Stake, except you could immediately rewrite anything and also rob legitimate nodes of their stake, for all I understand.
Momentary 51% of Proof-of-Work merely makes it possible to extremely slowly rewrite the neighboring blocks. As most Bitcoin transactions require many “confirmations” (blocks coming after the one with the transaction), the attack realistically needs a very big scale, rely on serious level of luck and, through the open ledger, it will be extremely easy to detect.
boboliosisjones@feddit.nu 2 months ago
Absolutely not the best. just the best adoption rate due to being first. Also because buying any other crypto usually involves step 1: buy bitcoin and step 2: trade for whatevercoin.