Nipate
Forum => Kenya Discussion => Topic started by: Arcadian_Dreamer on February 27, 2021, 07:43:27 PM
-
How can cryptocurrencies be viable when they use this much energy? Never mind its other faults - it has no intrinsic value, it fluctuates so can't be a reliable store of value, can only work for those who are tech savvy. It is the gargantuan electricity consumption that makes the thing impractical.
Bitcoin uses more electricity annually than the whole of Argentina, analysis by Cambridge University suggests.
"Mining" for the cryptocurrency is power-hungry, involving heavy computer calculations to verify transactions.
https://www.bbc.com/news/technology-56012952
This is just BTC by the way.
-
The elite will probably anoint some shit coin digital currency and then crypto will be outlawed. Recently saw elon musk erect doge coin crypto on Mars on on le of his media outlets.
XRP look like a good candidate for this.
Government are already setting up infrastructure for some form of digital currency.