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this post was submitted on 26 Jul 2023
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No Stupid Questions
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No such thing. Ask away!
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What?
I just wrote in Cell A5441 that you owe me 354000,- EUR.
Ownership has to be calculated by all participants, making a Blockchain unneccesary environmental load. You should revisit more reliable sources about the technology.
You would need to start with a literature research. https://scholar.google.com
I understand your point but that is the worst attempt at discussion I've ever seen lmao
"Too lazy to formulate an argument, look one up yourself"
You are right and I did think about it and the comment wasn't written easily. I did open scholar.google.com but I didn't wanted to put energy into an argument online about a topic I have no passion about.
I once wanted to get an overview about Blockchains because I wanted to see if the hype was real. There was no citable literature I could make use of in order to link it to my own understanding. A literature research can't ne done by somebody else.
This topic is too hard for me. I just felt some medium-knowledge vibes, so I did post a rude comment. But I did attempt to do good and point one to building his own opinion.
Sorry to be not helpful.
Cryptocurrency does work. It wasn't so good at scaling or maintaining a stable price. Or converting between other currencies. Really, it was more of a speculative gambling or money laundering vehicle than a currency, but it can handle transactions. Both sides have to cryptographically sign the transaction (using their wallet's private key); one side can't just unilaterally decide that transactions happened and now it's rich.
Edit: I realize I just addressed part of your comment. For the other part: the high environmental load was a choice, intended to be used to control how new currency is issued. There is a computational cost for maintaining the ledger, but it doesn't have to be as ridiculous as Bitcoin/ether mining got.