Pirate's Cove

Because there is nothing that the Cult of Climastrology won’t try to attack as being a problem for their cultish beliefs

This crypto claims to solve bitcoin’s biggest problem

Bitcoin may be the king of cryptocurrencies, but it’s facing an environmental backlash over the energy-intensive technology underpinning it.

A new crypto called chia says it’s the eco-friendly alternative.

Like most digital currencies, chia runs on a decentralized ledger system known as blockchain. But unlike bitcoin, chia, which was founded by the inventor of BitTorrent, claims it has a much smaller carbon footprint with its mining process of verifying and recording transactions.

Chia logged its first trades this week, joining a crowded crypto scene at a time of frenzied investor interest in alternative digital assets. (snip)

Every cryptocurrency has its own method for verifying transactions, typically by using the collective computer power of miners, who are paid for their help in cryptocurrency. The chia mining process, which the Chia Network calls “farming,” relies on using empty computer storage space instead.

This doesn’t resemble the mining process of cryptocurrencies like ethereum, for example. In its current iteration, ethereum uses proof-of-work, which requires a massive amount of computer power to harvest and mine the decentralized coin. The proposed ethereum 2.0, however, would use a proof-of-stake model, which is allegedly more energy-efficient.

The same people lauding this bit of green idiocy are the same ones who use massive amounts of electricity in their own lives. What’s the carbon footprint of CNN running its television stations and website? It’s like they don’t want Other People to use electricity anymore

The chia “farming” process is a greener mining alternative, but it does still require electricity.

When it comes to cryptos, “environmentally friendly” is a “relative term,” said Nick Spanos, CEO of Blockchain Technologies Corp, a software company. Computers need power to run, and natural resources are used to build hard drives, “much in the same way that electric vehicles and windmills still require too much resources to truly be environmentally friendly.”

So, basically, it still needs lots of electricity, it just touts itself as being green in order to dupe small minded and brainwashed Warmists, who will flock to it and enrich those running it.