Your experiences with energy efficient cryptocurrencies?

[schupp]

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?

[Daodex]

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.

[jrrsparkles]

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.

[JonsonMorris]

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://bitcointalk.org/index.php?topic=5353836.msg57666515#msg57666515.

[X-ray]

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

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.

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.

[cabron]

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.

[julerz12]

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?

Most miner's primary concern is expenses. Power consumption is one of those factors that gives them headache which is why more and more miners go with renewable energy. Hydro, Geothermal and wind power are some of the choices and are not only economical but also lessens the effects of climate change when mining cryptos. Even though it might take long, If all miners choose renewable energy then we would certainly see more support with Bitcoin and other similar PoW cryptos towards their stand on climate change.
If you're keen on looking for cryptos that has less environmental impact now then go with either ADA, XLM, ALGO, SOL, even ETH with their planned PoS and all other PoS altcoins and tokens. I think that is one of the key advantages of PoS than PoW coins/altcoins, having less impact on the environment. Just simply fund and run your wallet and see your rewards pour in.

[kojektea]

I don't see the advantages of mining bitcoin which is energy-intensive, it consumes a lot of electricity and is not environmentally friendly. Perhaps, mining from the POS concept does not use too much electricity is better, just run the node. I always pay attention to mining where it is said that there will be green energy for mining, but until now this has not happened.

[cryptoaddictchie]

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.

Yes it is. But the topic denotes an idea on environment which we knew that proof of stake is much better than proof of work thats consume huge power.

For investment bitcoin is there but with regards to the topic I think this would debate but we all knew which one is environment friendly when it comes to that.

[Fretum]

Interesting aspect that I haven't really thought about. It was already clear to me that cryptocurrencies sometimes consume a lot of energy, but I would not have bought a cryptocurrency because it needs a lot of energy.
Even if some miners use renewable energy, other households just don’t have that energy. Then there is less green energy available. This only shifts the problem. It could be a point that cryptocurrencies will be blamed even more in the future. If you look for negative aspects, you will find them. So it's definitely a target.
Which cryptocurrencies consume a lot of energy? Which less?
Would an eco-friendly coin be something to tempt you?
Which coins use Proof of Personhood? Does that need less energy?

[tarable]

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://bitcointalk.org/index.php?topic=5353836.msg57666515#msg57666515.

you suggested 5 altcoins and out of 5 altcoins, you chose CRD for the reasons you have mentioned.
Of the 5 altcoins, why is there no BNB's name included in the recommended altcoins? In my opinion, BNB can be used as a long-term investment or a short-term investment.

[bitkanu]

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?

I can't say a lot about advantage and disadvantage POS over POW caused by both have different characteristics. Talking about POS coin and coin based on POS consensus was so good in term of energy efficient, passive reward for the holders and even scalable blockchain that some POS blockchains already implemented. I have been also earning passively from staking my pos coin to help the network. This consensus is so good and it's like the coin that already issued or used in the blockchain become very useful as it can also give benefit to the passive holders like me who prefer to hodl my token rather than actively using it to trade.
Solanam, ATOM and all of POS coins are very good coins at this moment to invest. I have very good experience with POS coins.

[jossiel]

If you're an investor, it's not a concern that you have to address about the power consumption of mining bitcoin. Let all the work be done by the miners as they're mostly big time miners that have a renewable power source and heavily invested in that equipment like solar panels and other machinery that will recycle energy.

As you invest in altcoins that are PoS.

Before you look into any other altcoins, look into Ethereum. It's still PoW but it will become PoS soon.

[tsaroz]

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?

Bitcoin is an unique solution. There are lot of trust and value associated with this low volume crypto currency.
Theoretically it maybe possible to change bitcoins proof of work mechanism but it would certainly make bitcoin controversial. Bitcoin has always resisted large changes and even with small changes from volunteer developers, it has stood the test of time. As all of other energy intensive coins are moving towards greener option, I guess the world would be fine with mining bitcoin.

[Ararbermas]

Op don't based on what's the consumption of bitcoin when it comes mining because that's not how it works although it can affect the price in the market because of some factors but that's not enough reason to underestimate bitcoin.

infact despite of declined of such activities bitcoin still  gaining more attention based on its price in the market unlike altcoins...

So i don't think it's a good idea to choose altcoins than bitcoin because of such reason..

[bittick]

The transition already happened and i rarely seen the new coin introduced in the market that used the POW consensus and almost majority of new coin and token are using the POS consensus caused by the new developers know this so well if the POS consensus will become the most efficient consensus to be running into the blockchain that will be consume less energy compared with the POW blockchain.
I have some POS coins in my wallet and so far so good. Remember even elon was complaining about POW consensus that was wasting energy to keep it being decentralized,

[schupp]

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.

Yes, that's exactly my plan and that' s why I asked my question at this place in the board.

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

Globally, of course, energy consumption by Bitcoin does not account for very much. However, Bitcoin probably consumes as much electricity per year as a quarter of Germany's electricity consumption. I think that's not a small amount.

I think it's good that there is an increasing focus on renewable energies. However, there is not enough renewable energy for the whole world. What is used for Bitcoin is then lacking in another place, isn't it?

I think that at the moment it is important to save as much energy as possible. But I can understand if other people have different views.

And in the EU, a ban on POW cryptocurrencies seems to be on the agenda.... Even though I don't think that will be realized.

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.

What would you say are the benefits of POS?

If you're keen on looking for cryptos that has less environmental impact now then go with either ADA, XLM, ALGO, SOL, even ETH with their planned PoS and all other PoS altcoins and tokens. I think that is one of the key advantages of PoS than PoW coins/altcoins, having less impact on the environment. Just simply fund and run your wallet and see your rewards pour in.

Thank you, I will do it that way. I believe that over time people will move towards more sustainability. The only question is how long that will take.

Which coins use Proof of Personhood? Does that need less energy?

So far, I have only had my own experience with Idena. But there are also other cryptocurrencies that are based on Proof of Personhood. If you are wondering about the energy consumption, just read about the similarities and differences between POW, POS and POP.

Before you look into any other altcoins, look into Ethereum. It's still PoW but it will become PoS soon.

Yes, I know. But the process also seems to be delayed. Perhaps it is more difficult than expected?

[husdemba]

Bitcoin is very important right now, but it will be replaced by other projects in the future. Energy-related problems are temporary and cannot determine the fate of cryptocurrencies. If you trust cryptocurrencies, don't worry about energy 

[Reid]

Then there's Ethereum for you which is starting their way to POS.
Advantages. Just like you said. Energy. If you are the type of persons that is concerned about energy saving then you can always choose different type of consensus mechanism.
Disadvantages. Staking is kind of a long term investment if you ask me and it mostly relies to the amount of coins that you have to see the difference of what you will make. But, you will have peace of mind knowing you didn't support a high energy cost project.

[7788bitcoin]

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?

If you are using solar power to mine Bitcoin, does your concerns go down regarding the high power consumption  . Majority of the mining farms might migrate to solar energy in the future and you cannot blame Bitcoin mining as the reason for the climate change and global pollution.

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 are considering in investing in POS where a few will have majority stake then it is your choice, the POS mechanism always attract big investors with big funds and they control everything but i like the decentralized way rather than investing in staking ones for the long run.