this post was submitted on 30 Jan 2025
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Someone really needs to develop a way to transfer money without relying on banks. It's insane that banks get this power to force their own morals on everyone, even when the affected transfers are completely legal
Crypto. It's called crypto.
Something that doesn't toast the earth and isn't completely taken by scammers and all sorts would be much preferable
There's plenty of proof of stake tokens that do not waste all that electricity that mining does
Instead wasting petabytes of storage.
Storage is fortunately pretty cheap and resource efficient though.
In the grand scale of things, a couple petabytes are like 100 modern 32 TB hard drives. Powering them would require maybe 2 kW?
Crypto that does not do that
Such as?
Monero? Also, it just appears to be a coin with good intentions.
That’s what we have banks to protect from
You can’t have no regulations and no scammers
Almost every cryptocurrency other than bitcoin is far more efficient than bitcoin. Bitcoin went though a really weird hostile takeover by Binance, who realized that if they made Bitcoin super inefficient and gave it high transaction fees, then they could make a ton of money by pushing their alternative currencies and proprietary software. It was super effective, and they managed to keep the market centered around Bitcoin, and also make Bitcoin near useless as a peer-to-peer digital currency. Crypto miners will always spend the most effort on the most valuable currency, so we've ended up in a system that uses a ton of energy with at best marginal value to the users.
Bitcoin Cash is the closest thing to the original goals of Bitcoin, and anything based on Etherium will be much more efficient since it's based on proof-of-stake instead of proof-of-work.
XMR is very stable, and widely used but since is very privacy oriented and theres 0 need for KYC the techbros won't ever talk about it, also is not profitable because the fees are very low, and the confirmations are almost instant, so major institutions likely will never endorse it. Monero for the win.
We must have very different notions of what stability means. To me, anything that fluctuates more than 10% either up or down almost weekly is not stable.
How does one exchange XMR for actual cash without going through an exchange company?