Fuelled by hype and hysteria, the market in bitcoin and other cryptocurrencies went from an obscure niche to a $3tn industry. Then the house of cards collapsed
The environmental cost is something that mainly applies to bitcoin, Ethereum is moving to Proof of Stake which will reduce energy consumption by a lot.
Even other Proof of Work coins use less energy than Bitcoin, Algorand is doing well.
Eventually they’ll all go down that road so I think it’s a bit of a strange bandwagon everyone jumped on criticising crypto when it’s still at very early stages.
The environmental cost is something that mainly applies to bitcoin, Ethereum is moving to Proof of Stake which will reduce energy consumption by a lot. Even other Proof of Work coins use less energy than Bitcoin, Algorand is doing well. Eventually they’ll all go down that road so I think it’s a bit of a strange bandwagon everyone jumped on criticising crypto when it’s still at very early stages.