Your experiences with energy efficient cryptocurrencies? - page 3.

cabron

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Quote from: X-ray on February 22, 2022, 09:11:01 PM

Quote from: schupp on February 22, 2022, 09:22:40 AM

I'm considering investing more in altcoins based on proof of stake or proof of personhood. What do you think are the advantages and disadvantages?

POS is good and this is consumes very small amounts of energy as you didn't even need to mine it. It was using staking method. POS has more advantage compared with POW but this less decentralized.

Which also makes its value decline over time. If a person could have about 50 to 100 tokens per week by staking 100K of his POS tokens, he will just keep selling them.

I tried having some of these POS tokens myself and was already tempted when I just earn a few every week. For someone who earns thousands a day because they bought millions, it could just be easy money as long as the project continues. And the price as a result will also crash.

X-ray

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Quote from: schupp on February 22, 2022, 09:22:40 AM

I am watching with concerns the development of climate change and global warming. While I believe that cryptocurrencies make only a small contribution, even many small things add up to a large number.

It has clearly stated if crypto was contributing very small amounts of pollution to the climate change. Some miners are also moving to use renewable energy

Quote from: schupp on February 22, 2022, 09:22:40 AM

Bitcoin consumes a lot of power and I don't know if that can change. What do you guys think? As far as I understand, the trust in Bitcoin is mainly due to the proof of work mechanism. And with this, the high power consumption is probably inseparable?

It's no more. You can try to see bunch of article if so many bitcoin miners have been moving to use the renewable energy and this means if the bitcoin mining creates less pollution that can also contribute to the global warming to that will trigger the climate change.

Quote from: schupp on February 22, 2022, 09:22:40 AM

I'm considering investing more in altcoins based on proof of stake or proof of personhood. What do you think are the advantages and disadvantages?

POS is good and this is consumes very small amounts of energy as you didn't even need to mine it. It was using staking method. POS has more advantage compared with POW but this less decentralized.

JonsonMorris

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Bitcoin is the best and most recognized crypto asset. Bitcoin is in decline and investing in Bitcoin when it is declining is a long term solution. That's the basis for consideration.
choosing to invest in altcoins is good if the consideration is more on the top altcoins.

Choosing the top altcoins can be difficult, as there are so numerous to elect from, although it's really worthwhile as these crypto coins can frequently give triple-digit returns!

1) Ethereum (ETH) – Exciting Altcoin to Hold Long Term
2) CRD Network (CRD) – Overall the Best Altcoin to Buy in 2022
3) Cardano (ADA) – Best Cryptocurrency with Exceptional Deve
4) Ripple (XRP) – Exciting Cryptocurrency with Huge Implicit
5) Stellar (XLM) – New Cryptocurrency with Fascinating Use Case

I will suggest Number 2 Crypto coin because CRD Network (CRD) is suitable to offer an accrued service of proof of reserves, financial history data, and off-chain financial transactions, which allows us to broadcast a single source of truth related to a single public key linked to a single KYC (Know Your Customer) record.

Know more information about CRD Coin - https://bitcointalksearch.org/topic/m.57666515.

jrrsparkles

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Quote from: schupp on February 22, 2022, 09:22:40 AM

I am watching with concerns the development of climate change and global warming. While I believe that cryptocurrencies make only a small contribution, even many small things add up to a large number.

Bitcoin consumes a lot of power and I don't know if that can change. What do you guys think? As far as I understand, the trust in Bitcoin is mainly due to the proof of work mechanism. And with this, the high power consumption is probably inseparable?

I'm considering investing more in altcoins based on proof of stake or proof of personhood. What do you think are the advantages and disadvantages?

If you think that Bitcoin consumes lot of energy so it won't have a future as it had in the past, I bet you didn't know bitcoin miners are consuming less energy than energy need to power up a normal city in this world also many miners are working hard to bring the renewable energy sources to powerup their rigs so why no we help to bring renewable energy by giving subsidy or something than saying less decentralized is the good option for future.

Daodex

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Bitcoin is decentralized so don't expect that it's algorithm might change to proof of stake like what ETH Devs are planning BTC will forever be a proof of work coin, if you are looking for some energy efficiency coins look into altcoins.

schupp

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I am watching with concerns the development of climate change and global warming. While I believe that cryptocurrencies make only a small contribution, even many small things add up to a large number.

Bitcoin consumes a lot of power and I don't know if that can change. What do you guys think? As far as I understand, the trust in Bitcoin is mainly due to the proof of work mechanism. And with this, the high power consumption is probably inseparable?

I'm considering investing more in altcoins based on proof of stake or proof of personhood. What do you think are the advantages and disadvantages?

Topic: Your experiences with energy efficient cryptocurrencies? - page 3. (Read 346 times)