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70 sats \ 16 replies \ @ek 21 Aug 2023 \ parent \ on: Which sub should I choose? meta
last time I checked, bitcoin used 0.5% of total global energy output and 60% of it comes from renewable sources, a lot higher than other industries. imo, bitcoin's PoW is the least of our problems if not even part of the solution
The source of energy depends on the people who mine Bitcoin.
Of course, this does not change the fact that there are other cryptos that use PoW and consume much less energy.
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Of course, this does not change the fact that there are other cryptos that use PoW and consume much less energy.
and are thus vastly less secure and most probably need to use ASIC-resistant algorithms like Monero which is the real waste of energy since ASICs are a lot more energy-efficient.
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And we have such a Nano (yes I know I keep talking about it even I don't know myself why 🤣) which has such a light PoW that it doesn't need miners who will confirm transactions. Each wallet "mines" its own transactions. Their algorithm is super lightweight. Several hundred thousand Nano transactions = 1 Bitcoin transaction in terms of energy consumption. Just because it uses a lighter algorithm doesn't mean the blockchain is breakable. If that were the case, most of these types of solutions would no longer exist.
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Overall, Nano is such an average project. About 3 months ago, there was a big heckling on Twitter, where the only arguments were that it has very few nodes and no fees. As for the fiat value, it is very variable. Personally, I wouldn't keep a large amount of money in it, but I would use it to buy something with cryptocurrencies.
On top of that, it has a low marketcap because the projects that stand out the most are those that are related to web3.
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I personally did not buy cryptocurrencies with my money. I used to use various sites to earn cryptocurrencies and then it grew and I started investing in various things. For now, I do not plan to invest in cryptocurrencies from "my own pocket". Nano I somehow liked so much for the fact that you can nicely integrate it with various applications (I myself have a site for earning Nano)
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A heavier PoW does not mean that my funds are safe. The SHA-256 that Bitcoin uses is not Quantum Resistant, which makes it possible to break the blockchain and PoW means nothing here.
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