Comment on Buying a $250 Residency Card From a Tropical Island Let Me Bypass U.S. Crypto Laws
ayaya@lemdro.id 2 days agoOr any proof of stake coin like Ethereum, which doesn’t require any mining at all. The electricity argument is extremely out of date for most coins besides Bitcoin itself.
As far as I know GPU mining is pretty much completely dead because after Ethereum switch the yields on everything else tanked.
shortwavesurfer@lemmy.zip 2 days ago
To be fair I’m not a huge fan of pure proof of stake because it makes validation more difficult because you have to have code for slashing somebody’s stake if they are malicious or bad and a malicious entity could just buy up a bunch of your tokens and tank them. Admittedly, not a lot of people would do so, but I could totally see a government buying up a bunch of tokens on a network and purposely crashing the network in order to rid themselves of a nuisance and calling it justified. Proof of work makes that much more difficult. Still doable for certain, but much, much more difficult.
NotMyOldRedditName@lemmy.world 2 days ago
So a government is going to spend hundreds of billions of dollars to get enough Ethereum to disrupt it, before accounting for the price going up by purchasing hundreds of billions of dollars of Ethereum, and then they’re going to destroy the hundreds of billions of dollars they invested to take the network down, temporarily.
It would be more cost effective to do a supply chain attack and introduce exploits/weaknesses to try and make me doubt using it.