early_riser2d ago

Is cryptocurrency good for anything?

https://lemmy.world/post/44862231

Is cryptocurrency good for anything? - Lemmy.World

Can I buy a pizza with it or pay my bills with it? Can my employer pay me in it? Or is it just an “emperor’s new clothes” thing? I just don’t see the tangible value in it. Rhetorical questions, BTW, I know you can’t buy a pizza with it, at least outside of some edge cases that I’m not aware of. I thought what made money money was everyone agreed it was valuable and was willing to exchange it for goods and services directly. I don’t see that with crypto.

Show threadEk-Hou-Van-Braai2d ago

Bitcoin alone uses more electricity than Norway.

And that electricity is mostly from burning coal, so crypto is great for creating global warming

Show threadwitheyeandclaw2d ago
Wait until you hear about the energy cost of traditional finances.
Show threadYaBoyMax2d ago
This is a silly thing to say. Normal payment processing uses more energy, but that’s only because there are many, many more payments going through it. It’s orders of magnitude more energy-efficient than crypto.
Show threadEk-Hou-Van-Braai
Bitcoin wastes so much energy, I think all normal payment systems combined use less energy than it.
Mar 28 at 5:32pmWeb
Show threadJennyLaFae2d ago

Bitcoin wastes so much energy because it’s proof of work based which to my understanding is basically a bunch of computers churning out answers competing to be “first and correct” in order to print coins.

I like the idea of decentralized currency but the current execution of cryptocurrency leaves much to be desired.