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Author Topic: How Eco friendly is our money and is there an alternative?  (Read 310 times)
appleffi
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November 18, 2017, 11:27:23 AM
 #21

I got to read your article and it was a good read. I get your point on having an efficient money to circulate in the world. These digital cryptocurrencies is included as an option to be acquired on almost all country if it got its permission, of course, this is per country basis. And in line with every country decision on what medium of exchange they prefer most must top the efficiency of the money.

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March 08, 2018, 02:01:33 AM
 #22

Good post man, very informative. Interesting to see that Ethereum is still way below Bitcoin in terms of energy consumption. Maybe in the future we`ll see the trend shift from PoW to PoS to be more environment friendly (would be good to see some data on this one with just nodes running to stake).
I got to read your article and it was a good read. I get your point on having an efficient money to circulate in the world. These digital cryptocurrencies is included as an option to be acquired on almost all country if it got its permission, of course, this is per country basis. And in line with every country decision on what medium of exchange they prefer most must top the efficiency of the money.

I think this
Good post man, very informative. Interesting to see that Ethereum is still way below Bitcoin in terms of energy consumption. Maybe in the future we`ll see the trend shift from PoW to PoS to be more environment friendly (would be good to see some data on this one with just nodes running to stake).

I think it is more eco-friendly than having a paper money since our money now is made from paper so that means it came from the trees. So if we use the electronic money, the government or the central bank doesnt have to cut a lot of trees, so we save a lot of trees and save mother nature.
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March 08, 2018, 02:30:24 AM
 #23

Well that's an amazing write-up you have got there , reading it we could see how much hardwork was put into it.

But I do think that leaving Bitcoins won't be a solution but we could change how minning works ... How incredibly fast it consumes electricity on such a large scale.

Because minning will anyways take place even if one person is holding them all..
entrepmind23
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March 08, 2018, 03:04:58 AM
 #24

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The main point to be made here is that money should increase efficiency, no matter what trust model the currency uses. It needs to be efficient in order to have a chance of being widely adopted and functional for us all and the planet Earth.

Great article OP! With all the comparisons and references, we cannot just simply ignore the fact that bitcoin is indeed consuming a lot of electricity compared with other cryptocurrencies and even higher than some countries. I am not that familiar with Lightning Network but I am getting that it would make bitcoin more efficient and will have lesser transaction cost so I hope it would be implemented in the near future. Other cryptocurrencies has the advantages compared to bitcoin but bitcoin is still the most in demand among all of them because it is the most famous and has actual usage in real world.
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March 28, 2018, 05:06:41 PM
 #25

Wow very detailed write-up. It was indeed expensive to print or create our currency nowadays and BTC is currently on the top of the list. Hopefully  with the current energy revolution, which is harnessing the natural resources rather than fossil fuel will help us as lot with energy supply.

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