this post was submitted on 15 Jul 2024
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US Government Launches New Attempt to Gather Data on Electricity Usage of Bitcoin Mining (insideclimatenews.org)
submitted 4 months ago by jeffw@lemmy.world to c/technology@lemmy.world
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[โ€“] NotMyOldRedditName@lemmy.world 0 points 4 months ago (1 children)

esp. Monero XMR

Its hard enough to sell people on using VPNs to protect their internet privacy, trying to convince them to use this fancy thing 'only criminals' use to have financial privacy is definitely going to be harder.

[โ€“] sugar_in_your_tea@sh.itjust.works 1 points 4 months ago

Yup, but the most effective way to explain it is that it's just like cash. Criminals use cash, and criminals use Monero, and largely for the same reasons. For non-criminals like myself, the benefits are:

  • low transaction fees
  • fast transactions
  • pretty stable values

Or in other words, it works like cash, just digital. Like cash:

  • businesses can't track me
  • governments can't track me
  • there are no foreign transaction fees

Monero is our best option for a digital, non-government issued currency. It's as close as we'll get to digital cash.