Reply to post: Re: Ending in 2140?

Dollar for dollar, crafting cryptocurrency sucks up 'more energy' than mining gold, copper, etc

rmason

Re: Ending in 2140?

@I ain't Spartacus

Another reason it was dropped by steam et al was fluctuation in value and time taken,

As you mentioned not only did transactions hit too high a point but along with this (as the blockchain gets longer and more complex if you like, to over simplify) it was taking more and more time for the transactions to go through and be processed.

With a fluctuating value like with BTC etc this meant that by the time the transaction was "complete" and the pretend money was in their possession the value had changed from the time of purchase.

Sometimes this worked in their favour, sometimes they lost out.

Obviously they foresaw the potential of that "one day" when they'd take Xnumber of sales in bitcoin for them to suddenly become worth much closer to zero than when the lucky punters handed them over, and they didn't much fancy that.

Experiment over, call it a success as they now "own" however many of the various currencies they took and can see what happens to them, but not so much than when/if value hits approx 0 it won't hit the company too hard.

They've probably moved them all on already.

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