this post was submitted on 05 Jan 2022
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cryptocurrency
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Try sending money to someone in a different country. Its extremely expensive and slow using traditional banks. With crypto you pay a few cents and its almost instant (depending on the coin).
Ah! So it's an ecocidal ponzi-scheme that replaces a financial elite by another one, is full of scams, gives false hopes of decentralizaion and anonymity, raises de price of electronic components worldwide... buuuut... it makes some of them save a few bucks every now and then. I guess it makes it OK then.... :)
Proof of Work is the real culprit there, a lot of the 3rd generation (or whatever we're on) cryptos use Proof of Stake, which doesn't waste energy and destroy the environment by solving pointless math problems to validate transactions.