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Thoughts on Cryptocurrency?
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this post was submitted on 19 Mar 2024
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And I don't think Bitcoin is the end-all, be all cryptocurrency. In fact, I don't even have any. What I prefer using is Monero. It is still a proof of work coin yes, but instead of using ASICs, it uses CPUs, so it uses a lot less power. Having ASICs Promotes centralization of mining hashrate, and therefore it's easier for the government to require rules be followed. A few examples are OFAC compliant transactions only, mixers, etc.Monero does not have that problem because how are you going to ban CPUs from being used by normal people without just straight out banning the use of any computing device? And that would not go over well.