While crypto is ultimately going to be a hollow failure, there is merit in the blockchain technology that enabled it. But even that has issues. I used to think that a non-managed system of financial settlement was an incredibly powerful thing.
But the fact that it relies on ever-increasing electrical usage (via mining) means that it is …
While crypto is ultimately going to be a hollow failure, there is merit in the blockchain technology that enabled it. But even that has issues. I used to think that a non-managed system of financial settlement was an incredibly powerful thing.
But the fact that it relies on ever-increasing electrical usage (via mining) means that it is hard to imagine bitcoin lasting another 10 years let alone 100. Creative concept, but fatally flawed.
While crypto is ultimately going to be a hollow failure, there is merit in the blockchain technology that enabled it. But even that has issues. I used to think that a non-managed system of financial settlement was an incredibly powerful thing.
But the fact that it relies on ever-increasing electrical usage (via mining) means that it is hard to imagine bitcoin lasting another 10 years let alone 100. Creative concept, but fatally flawed.
Crypto is not BTC. It's hard to tell, though, how long will BTC dominate.
Various other cryptocurrencies are orders of magnitude energy efficient. Not all crypto is created by mining, i.e., proof of work.
Here's one list:
https://www.leafscore.com/blog/the-9-most-sustainable-cryptocurrencies-for-2021/