Pretty uninformed move. Or yet another marketing stunt.
Cryptocurrencies are not bad (edit: for the climate) by essence. Some are (e.g. proof-of-work based consensus ones). Some aren’t (e.g. federated bizantine agreement).
The latter does not consume a lot of energy to reach decentralized consensus. That’s why I like XLM.
Disclosure: I do not own any crypto assets (edit: and I never did in the past either). I am just an applied cryptographer.
The title is a bit off, I think. It implies that Mozilla’s climate policy review is over and done, but as far as I can see, the review is still ongoing. The situation is still the same as last week when this whole kerfuffle blew up: Mozilla has paused cryptocurrency donations and is currently reviewing the impact cryptos have on the world’s climate.
Thank you for the clarification! 🙂
For example G1 / libre currency, a social crypto who is not using PoW, just a simple method to create new money assign every real persona a fix little amount to create (web of trust). More info: https://duniter.org/
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I thought they’re doing review in the way they’re receiving cryptocurrency donation, and pause cryptocurrency donation, not exactly cancelling.
Even the article itself quoted it:
“Starting today we are reviewing if and how our current policy on crypto donations fits with our climate goals, and as we conduct our review, we will pause the ability to donate cryptocurrency.”
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Article from today , Wikipedia might follow too…
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I don’t know about where you are, but at least in Australia, there is no legal way to acquire cryptocurrency without handing over government ID, in my case both a driver’s license, passport, along with a photo of myself. Sure, there’s decentralised exchanges, but that’s a risky move for most people.
from an exchanger how about private transcations?
Could you elaborate? I’m not very knowledgeable about cryptocurrency.
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The Anti-Money Laundering and Counter-Terrorism Financing Act 2006 requires regulated entities to collect information to establish a customer’s identity, monitor transactional activity, and report to AUSTRAC transactions or activity that is suspicious or involves large amounts of cash over $10,000.
I commented on decentralized exchanges like BISQ and how it can be risky. I wouldn’t be surprised if my bank froze/shut down my account if they learned I was buying cryptocurrency peer-to-peer.
While happy to be proven wrong, I don’t think it’s possible here.
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Crypto one way or another is the future, no matter if people like it or not. There are always people who try to fight new technology, nothing new here. We had the same people fighting PayPal and other online banking system when they were introduced.
- Fighting technology is stupid, you should embrace it and then find ways to make it reliable, economical and find ways to not waste much energy, new algorithm can archive that.
- The latest study is from 2020 which analyzed CO2 and came to such a conclusion, since then lots of things have changed. That Bitcoin was never be designed to be climate neutral is clear and there exist already better solutions. I think Tesla, Mozilla etc think that this reflects - forever - the state of blockchain or crypto, which is entirely not the case. It will evolve and we learned already from the mistakes.
- You can do with one transaction thousands of business transactions in one go with newer algorithm, no bank is that efficient.
- We simply need to build better renewable energy sources in generally.
Essential problems are
- Mining. The govt should declare this world wide as illegal. It looks like this might be happen, there are some countries already banning it which is a good thing.
- Mozilla and other things that the payment system might never evolve, this is entirely not the case. So Mozilla wrongly assumes that banking is the better solution, this is not the case in terms of efficiency and privacy.
- Scammers, but they also exist with traditional banking systems. I speculate that the govt and or Mozilla fear loss of control, which might be one key factor why they dislike it.
- Mozilla got over 500 Mio Dollars last year, instead of using the money to research climate neutral systems, they do nothing with the money. They could make an example and create a green system, instead they do just nothing here and spread an oversimplification that crypto in general is bad, which is not the case. It scares people away, especially the ones not involved or not booted into tech or such blockchain systems.
Crypto one way or another is the future, no matter if people like it or not.
doubt
He didn’t say which crypto. Do you have serious concerns? Otherwise he’s right.
I have serious concerns
What are those?
That’s what I thought
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I never said in its current form, I said newer algorithm are the future, which automatically implied that it needs work + I gave an example that the climate thing was based on study from 2020 on an outdated algorithm, they even mention that newer algorithm are more efficient.
It is the future. If you like it or not, there is nothing to argue. You do not fight it, you improve it, as said. Or you still fight cars … no … also, lets move on…
Also spare us answers ala … doubt … if you have no proof or arguments. I do not care if someone has doubts, there are always people who deny everything that is new but they never have any valid arguments. Coin system is more private friendly, more efficient and modern.
Down-vote me all you want, you have nothing to beat my arguments, because there none.
