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Trump's stablecoin chosen for $2 billion Abu Dhabi investment in Binance, co-founder says
(finance.yahoo.com)
this post was submitted on 02 May 2025
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So this is how they move off fiat? I'm sure they're on a Proof of Stake L1/L2, rather than a Proof of Work.
https://ca.finance.yahoo.com/news/wlfs-zach-witkoff-usd1-selected-093046749.html
Tron is apparently PoS, yes. Personally I have no idea what any of these mean and don't care to learn, because 99% of them are scams.
PoW = Get a GPU, crunch some numbers, make some money.
PoS = The Rich Get Richer. The Poor Get Screwed.
There is the technical argument that PoS was more energy efficient than running data centres full of ASICs or sometimes GPUs solely to produce proof-of-work.
It's still different flavours of Let's Prentend We're Finance Except Without Grownup Boring Rules, but if we can avoid burning gigawatts and puffing the cost of GPUs, there's a case for it.
I mean it's not really an argument, they objectively use far less energy. Something like 98%+ less than PoW. It basically eliminates the entire "it's bad for the environment" argument.
If you think that crypto is the driving force behind poverty, then I have some bad news for you...
https://whatismoney.info/wp-content/uploads/2020/05/DollarDevaluationHistory.png
No, I was simplifying the two proof systems in crypto, not saying it's the cause of long-term trends.
Educated people generally prefer scams that don't destroy the planet.