Still quite sure that a global-scale monetary system based on a PoW #blockchain would be worth the energy cost. I’ve held on to hope for quite some time, but as of now, #Bitcoin hasn’t reached that goal, nor is it close to doing so. I’m ready to declare that experiment a failure.

Mar 24, 2021 · 7:24 PM UTC

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(Of course many people I respect have been saying that for a long time, but I still think the approach itself is worthwhile in principle and too easily dismissed. The enthusiasts have failed to actually prove them wrong in case of this particular application so far, though.)
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Replying to @stilkov
I'd dare to say that there's no real world practical consensus algorithm available as of now. PoW and PoS variants all come with their own share of problems. And any too powerful party can own the system. Then I rather trust in our national bank and the legal system.
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Luckily for you, your country (like mine) is one of those where that trust is an actual viable alternative
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Replying to @stilkov
Mhm maybe you want to check out Cardano's #ADA
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I did (a while ago). None of the PoW alternatives, including PoS, have proven themselves to be a viable alternative yet, AFAICT. I do have hopes that they will
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Replying to @stilkov
At least with the recent hype around NFTs, there is still hope for ethereum ;-).