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this post was submitted on 21 Mar 2024
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Privacy
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How much energy does it take to run the banking sector?
Yeah, good luck with that. It's censorship resistant. So that legislation doesn't fucking matter.
Funny as most stuff can be purchased in Monero without swapping.
which could be easily changed at any time.
Please do remember that the banking industry provides banking for the entire world, instead of ~ten thousand people. It does cost a lot of energy, yes, but the energy per person is far less than with any cryptocurrency.
The point of crypto is for everybody on earth to be their own bank and be part of the financial system, which is something the banks cannot do.Also, the bank's banking system and governments have gotten us into the situation we are in now where the poor get poorer and the rich get richer. I don't know who said it, but I heard a quote once that said something to the effect of, let me control what a man uses as money, and I care not who makes his laws.
And yet most cryptocurrencies are mostly used as a investments instead of using them for their intended purpose which is transactions .
Which I agree is a problem. I don't see them as an investment. I see them as a way to get out from under the authoritarian rule of governments. Unfortunately, we have what we call the number go up crowd and we don't like them very well.