Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Crypto currency Mining => Topic started by: Zardbeig on June 29, 2021, 12:41:08 PM
-
Bitcoin is not sustainable. Despite claims that the cryptocurrency utilizes renewable energy, researchers have found that Bitcoin continues to primarily use fossil fuel sources to power mining efforts — so much so that Bitcoin has a carbon footprint roughly equal to the entire country of Morocco. So while investing in the cryptocurrency may be good for your bottom line, depending on how favorably Elon Musk is tweeting about it on any given day, it is always terrible for the environment.
But not all cryptocurrency is created equal. While much has been made about the environmental impact of Bitcoin and other heavy energy consumers like NFTs, there are methods to make cryptocurrency and other digital assets more sustainable. Some, like Ethereum, have plans to shift toward a more environmentally-friendly model in the future, while others have put considerations of environmental impact and energy consumption front and center from the start. And some like Crypton (https://utopia-ecosystem.com) already use green mining. All you need is a PC and an internet connection. That's really great to mine without any investments.
If you're looking to invest in cryptocurrency, the environmental impact should factor into your decision. So how do you identify which cryptocurrencies are actually sustainable?
-
Hmm, have you tried this project? It would be interesting to learn about the updates on the crypto market.
-
Former Greek finance minister Yanis Varoufakis has argued that Bitcoin creates “a kind of feudalism run by the early adopters” and that it would be outright “catastrophic” if it replaced fiat currencies. However, he said, there is still a lot of good that digital assets can bring to the world.
-
Hmm, have you tried this project? It would be interesting to learn about the updates on the crypto market.
Yes, I mine this coin as it doesn't require any additional stuff like extra equipment or extra electricity fees. So it's very convenient if you don't want to make any investments and to lose money, while the crypto market is unstable.
-
Hmm, you know, this idea seems to me attractive and promising. At least now this project looks reliable and eco-friendly. Especially if you do not need to invest in it or buy an additional staff.
-
The problem of the carbon footprint of Bitcoin mining, raised by Elon Musk, is in many ways far-fetched. Miners are not looking for carbohydrate energy sources. They consume the energy that the government of the country supplies them centrally. However, in any case, the problem has been raised and it must be solved, and here the solution may be in the transition of cryptocurrency to a proof-of-stake algorithm. In this regard, the ethereum network is updated in a very timely manner, including in this regard. Therefore, the popularity and price of this coin should increase significantly.
-
The problem of the carbon footprint of Bitcoin mining, raised by Elon Musk, is in many ways far-fetched. Miners are not looking for carbohydrate energy sources. They consume the energy that the government of the country supplies them centrally. However, in any case, the problem has been raised and it must be solved, and here the solution may be in the transition of cryptocurrency to a proof-of-stake algorithm. In this regard, the ethereum network is updated in a very timely manner, including in this regard. Therefore, the popularity and price of this coin should increase significantly.
I can also offer you to participate in a huge promo action for miners https://www.altcoinstalks.com/index.php?topic=223611.0 CRP is also mined by proof-of-stake and can be called green. I think that ETH are now trying to create a similar project. But this one is alive for 3 years already, if I'm not mistaken.
-
And what do you think about it? It seems to me that this action is worthy of attention. And I have no reason not to trust the creators of this software.
-
The problem of the carbon footprint of Bitcoin mining, raised by Elon Musk, is in many ways far-fetched. Miners are not looking for carbohydrate energy sources. They consume the energy that the government of the country supplies them centrally. However, in any case, the problem has been raised and it must be solved, and here the solution may be in the transition of cryptocurrency to a proof-of-stake algorithm.
Translated to simple words, Musk has stated that Bitcoin, in contrast to Tesla cars for example, is unworthy to consume electrical energy.
In response, the Bitcoin community is crouching in shame and fear and discusses the possibility of reducing carbon footprint of Bitcoin mining.
This is (ask Foucault) the totally wrong response.
-
to make a cryptocurrency stable and stable, you need to back it up with something. it works like money backed by the country's gold reserves. this gives stability but reduces volatility, which in turn reduces profitability. stability plays for both sides, reduces risks and is a deterrent to growth and decline
-
And what do you think about it? It seems to me that this action is worthy of attention. And I have no reason not to trust the creators of this software.
I think that it's a good chance to win a part of 5000$ prize pool. Moreover, I'm interested in how many people do already participate in this action. And third, you should know that you can run up to 50 mining bots on 1 PC. That's amazing.
-
Yes, the conditions of the pomo are really impressive. I can also note the number of users taking part in this bounty. I think this indicates the growing popularity of the project.
-
How can we know the number of active users and participants of the action? If even half of them will run by 50 mining bots on their PCs, how will increase the number of mined coins and how will it affect its rate. Won't it kill the coin?
-
As far as I could understand, users need to confirm their participation. If you forget about it , you are automatically excluded from the promo. I don't think that this will bring down the coin, I think the organizers will not allow this.
-
Of course you don't participate if you don't fill-in the form. How could the organizers understand that you're taking part in the action while many people already mined the coin and continue doing that? If you won't confirm the participation, you won't be able to take part in the main prize drawing. But all the mined coins will remain with you.
-
Cool. It is very interesting. In fact, I am looking forward to the end of the promo campaign and feedback from the participants. If they are good , I will definitely take part in the third promo.
-
You can continue dreaming about it, but I'm sure that such a large-scale action won't take place in the nearest time. As this one will last till the end of September. And no one will do give-aways for 5000$ every 3 month. So if you want to participate - you're still able to start. Or forget about it.
-
Yes, I think I'll think about it again and make a final decision. Although, of course, the promo looks extremely attractive.
-
There's even more attractive thing just happened. Utopia p2p launched one more coin - UUSD stablecoin (https://utopiap2p.medium.com/utopia-p2p-introduces-anonymous-usd-stablecoin-backed-by-dai-f9fc213901db). It is backed by DAI cryptocurrency and is fully anonymous. Keeping crypto in 1:1 to US dollar is the best that could happen.
-
Yes, this is incredible news! Stablecoins are something that allows you not to worry about the fall of the cryptocurrency exchange rate, as for example, it was the last time with bitcoin. To be honest, I'm impressed.
-
You say like UUSD is the first stablecoin :) Of course, that's nice when you don't have to worry about the rates, but this coin still has many questions to ask. It needs time to see how it will be released and how many supporters will it gain.
-
I rather meant the fact that a decentralized stablecoin is something new. In addition, if I understand correctly, mining has remained green, so this is a double benefit.
-
Yes, what concerns the decentralization, you're right. It seems to be a unique project. But of course, it has to be listed on some exchanges first in order to gain more popularity. Let's wait and see.
-
YES, now users of the ecosystem will wait not only for the release of a mobile application, but also for the listing of a new stablecoin.= ) I hope this will happen in 2021!
-
I'm sure it will as if they'll miss the opportunity - it will be too late. Everything should be made fast. But looking on the number of Crypton nodes, I got sure that the project is really popular already. They reached 31K active nodes already. In comparison, at the beginning of the year, Bitcoin had 10K and Ethereum 12K. That impressed me a lot.
-
I think that this at least means a sufficient number of users who are interested in improving the project and increasing its reliability. And this looks like good news.
-
The main question all these miners have is whether there will be a jump in Crypton price. I know that it depends on many factors, but it's hard for the self-financed coin to grow fast. As all the popular coins have investors.
-
Yes, you are absolutely right. The value of a coin consists of a combination of many factors. However, it seems to me that the growth of Crypton's popularity can be traced. This is already quite a lot.
-
Crypto Industry has continuously and continuously so far. Early. Crypto does have good fundamentals. And more than Bitcoin, the existence of bitcoin mining, trust, and also a high market cap on bitcoin makes this coin certainly always survive in any condition. Likewise with top coins. But not necessarily with new tokens or coins.
-
Cryptocurrency is now widely used in almost all countries, and this cryptocurrency is a digital currency. And its use will not end easily. However, Bitcoin mining requires good quality PC and power, more variety of equipment.
However, you can earn by mining. If you have experience in mining, you can do mining.
-
I think you can make some coins stable, but you cannot completely change the market, the whole point of cryptocurrency is in its high value, it brings in millions.
-
I think you can make some coins stable, but you cannot completely change the market, the whole point of cryptocurrency is in its high value, it brings in millions.
He meant about the sustainable, not specifically for \stable coins.
imo, it is possible to make crypto sustainable, but of course, what kind of crypto? Not all crypto can do it. We know how many cryptocurrencies in the market and also not listed on market. Most good cryptos can survive and also sustain so far on the market. But some cryptos are died and becoming shitcoins
-
I think the cryptocurrency will always be very valuable because on the blockchain of various cryptocurrencies, like Ethereum, many projects are released every month, which actually change the world, and therefore these projects are growing in price and falling very quickly
-
But, Bitcoin still has the biggest market cap
We can see that there is no altcoins that can defeat Bitcoin. YFII that is commonly high enough, in fact, Bitcoin can really pass the price easily. And this happens because so many people in this crypto world still believe kn Bitcoin whatever the companies
-
Dear friend I do not have the exact information the sustainable coin I have read that the Bitcoin is using a very high amount of electricity fossil fuel wheat is not good we just see that the price of Bitcoin is going high and high but there are many other problems also.
-
Of course you don't participate if you don't fill-in the form. How could the organizers understand that you're taking part in the action while many people already mined the coin and continue doing that? If you won't confirm the participation, you won't be able to take part in the main prize drawing. But all the mined coins will remain with you.
I think that you should learn how to quote o that your answer is referred to the person who are asking it. It will help other to understand what you mean.
And participation in the main prize drawing? What do you mean of this?