#waroncrypto — Public Fediverse posts

SEC Commissioner Backs Trump’s Vision to End ‘War on Crypto’ - The SEC’s “war on crypto” may be winding down as a commissioner signals support fo... - https://news.bitcoin.com/sec-commissioner-backs-trumps-vision-to-end-war-on-crypto/ #donaldtrump #waroncrypto #regulation

Ripple Legal Chief Discusses Potential SEC Appeal After Final Ruling in XRP Case - Ripple’s chief legal officer has addressed the possibility of an appeal by the U.S... - https://news.bitcoin.com/ripple-legal-chief-discusses-potential-sec-appeal-after-final-ruling-xrp-case/ #cryptocurrency #stuartalderoty #digitalassets #biden-harris #ripplelegal #waroncrypto #courtorder #ripplecase #featured #crypto #ripple #sec #xrp

@boltx The paper concluded a difference of a few orders of magnitude, which would not be minor. The new PoW algos would not be able to compete with PoS on energy, but PoS cannot compete on other factors like balance of power and requires a bit more trust iirc. So on a PoS chain, wouldn’t you have people hoarding large amounts of coins and just sitting on them? That seems to drive the currency to be used as an investment when really we want it to be treated like a currency.

They both have their place and the extent of PoW energy demand is always way overblown. It’s not a significant climate factor.

OTOH, banks invest in fossil fuels with reckless disregard. The #WarOnCrypto and #WarOnCash together culminate into Bill Gates’ wet dream: forced banking, which IMO would be the greatest dystopia. We may not be able to stop the elimination of cash but should cling to PoS and PoW to the extent needed to avoid forced banking.