I don’t know if this argument is the winner you thought it was. A currency where people aren’t using it as a means of exchange because of price fluctuations is a failure.
Comment on Bitcoin is Stupid and Does Not Deserve an Emoji (blog post)
shortwavesurfer@lemmy.zip 1 month agoNow, overlay that price chart with a transaction count chart averaged out over say 90 days and what you will notice is that big spike up to 400 and above was at basically no transaction volume which makes it seem more like that was hype. Looking at the price chart over shorter timeframes such as a year will show you that the transaction count is actually increasing now and the price is staying quite stable.
YtA4QCam2A9j7EfTgHrH@infosec.pub 1 month ago
cygnus@lemmy.ca 1 month ago
No, no, hear them out. It’s actually super great that when you walk into the grocery store the loaf of bread is $1.50, and by the time you walk to the bread aisle it’s $0.72, and by the time you walk to the cashier it’s $2.10. This is actually super great, because there’s also a medium country’s worth of electricity being consumed to enable that.
shortwavesurfer@lemmy.zip 1 month ago
When i pick up a loaf of bread its 0.012, and when i check out its 0.012. Currentsies are going to shift against each other. The exact same thing would occur if you walked into a store in, say, Germany and handed them dollars. Also, do you mind telling me how much energy the banking system uses to run their equipment, build their buildings, have their employees come to their branches, move armored trucks full of cash, etc.
shortwavesurfer@lemmy.zip 1 month ago
It fluctuates with an I narrow range, and as it gets more adoption, that range is continuing to narrow. As a matter of fact, I sell items for Monero and I keep my prices completely stable and people do come to buy things. xmrbazaar.com/user/shortwavesurfer2009/. I have my prices set in such a way that they will stay stable until at least December 1st of 2024 at which time I will update them if need be.
cygnus@lemmy.ca 1 month ago
“Ignore the glaring flaws and look only at the parts I tell you to” is great fiscal policy and inspires a lot of trust. You nerds are basically sending PGP emails to each other and pretending it’s money. It isn’t — it’s literally nothing.
shortwavesurfer@lemmy.zip 1 month ago
Well, we will just have to agree to disagree.
cygnus@lemmy.ca 1 month ago
No, because the rest of us have to deal with the environmental destruction wrought by your virtual paperclip maximizer. it affects everyone.
shortwavesurfer@lemmy.zip 1 month ago
Fine, go after the industries that are doing more, such as industrial processing for making glass and other things that require high temperatures, the global transportation industry, etc.
sugar_in_your_tea@sh.itjust.works 1 month ago
Monero is mining-resistant, which means mining farms are going to be unprofitable. The people mining Monero are regular enthusiasts, so that should mean there’s less wasted energy from a ton of people competing over the same number of coins. Oh, and Monero has no maximum block-size, which keeps transaction costs low (which means even less competition over mining).
I don’t know of a good way to estimate Monero electricity usage, but I’m guessing it’s way less than Bitcoin has per transaction, or at least it would be if they had a similar number of transactions. Monero is a lot more complex currency (so one transaction will actually spawn a bunch of “fake” transactions), but that mining-resistance is doing some work.
Here’s Monero’s webpage, which has some discussion on energy usage, which I think I’ve summarized well above.