▲ 250 ▼ Iran demands $1 per barrel of oil passing through Strait of Hormuz, paid in crypto (thehill.com) submitted 4 months ago by CharlesDarwin@lemmy.world to c/politics@lemmy.world 33 comments fedilink hide all child comments
[–] NoneOfUrBusiness@fedia.io 9 points 4 months ago (3 children) The politics of the thing aside, couldn't they have found a currency that doesn't burn fucktons of energy? permalink fedilink source hideshow 6 child comments replies: [–] FaceDeer@fedia.io 18 points 4 months ago (1 child) In the specific case of Iran and Bitcoin, using a currency that requires expenditure is actually a benefit. It increases demand for the very thing that they're selling. More generally, though, there are plenty of cryptocurrencies that don't burn significant quantities of energy. Anything running on Ethereum has been validated using proof-of-stake since 2022. permalink fedilink source parent hideshow 2 child comments replies: [–] teyrnon@sh.itjust.works 1 point 4 months ago I have heard that at least drug dealers are using Monero now. At least the ones that I have second hand familiarity with. permalink fedilink source parent [–] IndustryStandard@lemmy.world 3 points 4 months ago (1 child) Crypto is much more efficient than any FIAT currency. permalink fedilink source parent hideshow 2 child comments replies: [–] NoneOfUrBusiness@fedia.io 2 points 4 months ago I meant non-bitcoin crypto. I'm not 100% clear on this, but AFAIK there are less energy-intensive coins. permalink fedilink source parent [–] UnspecificGravity@piefed.social 1 point 4 months ago Yeah, that is the problem here. permalink fedilink source parent
[–] FaceDeer@fedia.io 18 points 4 months ago (1 child) In the specific case of Iran and Bitcoin, using a currency that requires expenditure is actually a benefit. It increases demand for the very thing that they're selling. More generally, though, there are plenty of cryptocurrencies that don't burn significant quantities of energy. Anything running on Ethereum has been validated using proof-of-stake since 2022. permalink fedilink source parent hideshow 2 child comments replies: [–] teyrnon@sh.itjust.works 1 point 4 months ago I have heard that at least drug dealers are using Monero now. At least the ones that I have second hand familiarity with. permalink fedilink source parent
[–] teyrnon@sh.itjust.works 1 point 4 months ago I have heard that at least drug dealers are using Monero now. At least the ones that I have second hand familiarity with. permalink fedilink source parent
[–] IndustryStandard@lemmy.world 3 points 4 months ago (1 child) Crypto is much more efficient than any FIAT currency. permalink fedilink source parent hideshow 2 child comments replies: [–] NoneOfUrBusiness@fedia.io 2 points 4 months ago I meant non-bitcoin crypto. I'm not 100% clear on this, but AFAIK there are less energy-intensive coins. permalink fedilink source parent
[–] NoneOfUrBusiness@fedia.io 2 points 4 months ago I meant non-bitcoin crypto. I'm not 100% clear on this, but AFAIK there are less energy-intensive coins. permalink fedilink source parent
[–] UnspecificGravity@piefed.social 1 point 4 months ago Yeah, that is the problem here. permalink fedilink source parent