Digital currencies are fundamentally changing the way we think about money and banking. The rapid rise of cryptocurrencies like Bitcoin, along with the
If ur using shitcoins and memecoins sure. If ur using monero then u have significantly lower transaction fees, zero surveillance, zero advertiser tracking, and u cant be debanked or have ur funds frozen.
U still have consumer protections when ur using it as a currency (like intended) cos its not like someone selling something for monero is suddenly above the law just means that if u send ur money to a Nigerian prince u aint getting it back, ohh and u can still use crytpo through a traditional exchange with all of said consumer protections.
Monero transactions are mined every minute and can be verified instantly. To fool this u would either need to make multiple transactions within the span of 1 minute (perfectly timed to the unpredictable timings of the blockchain) or collude with the entire network to delay mining a particular transaction.
The environmental impact of monero is extremely minimal compared to other coins due to it using an algorithm limmited by cpu cache not compute like most currancies. Also crypto is playing a significant role in providing a way to instantly shed load from the grid in responce to the unpredictable nature of renewable energy (most cryto mining operations make more money from selling energy to the minute by minute power grid than they do from mining crypto).
And it’s not like the traditional banking industry is energy efficient. I would argue that they use more power especially if you consider the lifestyle of banking executives.
The energy usage was criticized not in absolute terms, but in relation to the numbers of transactions. Cryptocurrencies are criticized for consuming more energy while being much lower in volume.
That said, we do need projects like Monero now. At least at the present moment, it is the closest we have to “digital cash”.
Thats before u account for building a branch in every town/city, the cost of the employees driving to work, the driving of physical cash from place to place etc etc.
If ur using shitcoins and memecoins sure. If ur using monero then u have significantly lower transaction fees, zero surveillance, zero advertiser tracking, and u cant be debanked or have ur funds frozen.
U still have consumer protections when ur using it as a currency (like intended) cos its not like someone selling something for monero is suddenly above the law just means that if u send ur money to a Nigerian prince u aint getting it back, ohh and u can still use crytpo through a traditional exchange with all of said consumer protections.
Monero transactions are mined every minute and can be verified instantly. To fool this u would either need to make multiple transactions within the span of 1 minute (perfectly timed to the unpredictable timings of the blockchain) or collude with the entire network to delay mining a particular transaction.
The environmental impact of monero is extremely minimal compared to other coins due to it using an algorithm limmited by cpu cache not compute like most currancies. Also crypto is playing a significant role in providing a way to instantly shed load from the grid in responce to the unpredictable nature of renewable energy (most cryto mining operations make more money from selling energy to the minute by minute power grid than they do from mining crypto).
And it’s not like the traditional banking industry is energy efficient. I would argue that they use more power especially if you consider the lifestyle of banking executives.
The energy usage was criticized not in absolute terms, but in relation to the numbers of transactions. Cryptocurrencies are criticized for consuming more energy while being much lower in volume.
That said, we do need projects like Monero now. At least at the present moment, it is the closest we have to “digital cash”.
Thats before u account for building a branch in every town/city, the cost of the employees driving to work, the driving of physical cash from place to place etc etc.