Comment on Monero Project admits thieves stole 6-figure sum from a wallet in mystery breach

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kartonrealista@lemmy.world ⁨7⁩ ⁨months⁩ ago

Theatge amount of energy you mention is really only relevant to proof of work. You’ve mentioned proof of stake etc - so you should know that. The energy requirements for “proof” techniques such as PoS is negligible

It can’t compete with payment processors. Proof of stake is also basically just oligarchy, while proof of storage is a waste of hardware. All of them center their validation process on big money investors, who either have a lot of hardware or a lot of money to stake.

Although, I don’t know of anyone that gets their salary into their crypto wallet.

So it would be useless for things normal money is useful for? Where’s the revolution in banking that I heard about? Banking the unbanked?

Regarding on chain transaction transparency, there are some chains that are like this (bitcoin), and there are some chains that are not (monero).

Here you provided users privacy at the cost of making criminals completely untraceable. Bravo.

How about a bank account, where people who know you won’t know your transaction history but police can catch people participating in organized crime?

I don’t think crpyto will solve all of.humans problems, but I might just help with some

Which ones? I have not heard of one use case, only excuses from you guys.

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