Is it possible to make crypto sustainable?

[Zardbeig]

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 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?

[Marryan]

Hmm, have you tried this project? It would be interesting to learn about the updates on the crypto market.

[Power420]

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.

[Zardbeig]

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.

[Marryan]

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.

[Astra]

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.

[Zardbeig]

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.

[Marryan]

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.

[Hipshot]

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.

[dotcoin.info]

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

[Zardbeig]

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.

[Marryan]

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.

[Zardbeig]

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?

[Marryan]

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.

[Zardbeig]

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.