So, for 'protocol' read 'cryptocurrency' (that's basically what the article defining the word that Kickstarter linked says). So yeah, speculating on the value of the KScoin and all the "alternative economic activity" (read: fraud and crime) that it and all the other cryptocurrenies enable.
here's the bitcoin vs Visa article
Bitcoin Energy Consumption Index - Digiconomist
The Bitcoin Energy Consumption Index provides the latest estimate of the total energy consumption of the Bitcoin network.digiconomist.net
And here's a report on Solana
Solana’s Energy Use Report: November 2021
The average Solana transaction takes less energy than many other common household activities.solana.com
As I understand it, the Solana blockchain is wholly hosted on Google Cloud. Which on the one hand does make the environmental impact Google's problem, on the other hand it makes an utter mockery of the notion of decentralisation. See also the Vice article a couple of pages ago about dYdX, a cryptocurrency exchange, getting knocked offline due to the AWS outage.
I mean, it's not exactly goalpost moving when it's pointed out that the only thing cryptocurrenices do better than fiat is enabling crime.
www.google.com
www.google.com
The best way to describe it is, In Super Mario 64 (and other mario games) Chomp is on a chain tied to a wooden stump. Blockchain is essentially the same thing.
Repeating yourself won't make you any more convincing.
Report claims each Solana TX uses less energy than 2 Google searches
According to a new report from Solana, the network is more eco-friendly than both ETH and XRP.
One Solana transaction uses as little energy as two Google searches
Solana has revealed its network energy consumption statistics for November show a standard SOL transaction now only consumes 1,837 Joules of energy – fewer than two Google searches.www.google.com
Solana claims 1 transaction on its network consumes less energy than 2 Google searches
A single transaction on Solana network uses 0.00051 kilowatt-hour (kWh), or 1,836 Joules, of energy, while an average Google search uses 0.0003 kWh or 1,080 Joules of energy.
I mean, from the one hand I've seen plenty of exchanges completely shit the bed when demand gets too high (usually during sudden price falls as everyone tries to get their money out). On the other hand, expecting zero intermediaries is going to lead to disappointment. I think that's a large part of why there's so much venture capital being dumped into crypto companies at the moment, they want to own the next YouTube-style functional monopoly
Eh. The big thing that crypto-advocates completely ignore is that while blockchains are good at recording that a transaction happened, it does nothing to verify that all parties involved in that transaction gave their authorization for said transaction. Practical example: you click on a dodgy link that masquerades Arbitrary Crypto Exchange, and give the dodgy site your username and password. Dodgy site then uses these credentials to log into your account and send all your crypto assets you have on the exchange to a wallet they control. As far as the blockchain is concerned, this is a valid transaction. Meanwhile, all your cryptoassets are gone, and there's no way to reverse the transaction.
But Square* already exists. And I think you (and Kickstarter, to be fair) underestimate how important having a centralised, long-established platform in generating end-user confidence, especially considering we're talking about effectively pitches to do a thing in exchange for advance money, and there's very little to prevent people taking the money and running. With Kickstarter, there's at least a perception that they'd do *something* even if it's just banning the runner from the plstform. With PleaseCrowdfundMyCoolProjektdoteth, there's nothing.
Hot take: I'm genuinely surprised nobody's attempted to duct tape phpBB to a blockchain and try to promote it as a decentralised alternative* to Discord.
Nobody knows. I'd like to think they'd have enough wit to not require all transactions to be made in cryptocurrency, but then again if they had that much wit they would realise announcing this we go down like a lead balloon amongst its userbase, so I won't rule out them being that dumb.
I claim they are off by 3 orders of magnitude, prove me wrong!
Pretty much my take. Plus, gives them a chance to get tech bros and crypto fans onto crowdfunding. They will announce that they "natively" support crowdfunding crypto or something like that.
I don't think these problems should be solved by throwing more (and worse) capitalism at them.
