I don’t accept the premise that any crypto always wastes energy. Bitcoin is maybe the most energy hungry one but others use a lot less.

Ethereum energy use dropped by 99.84% when they moved from proof of work to proof of stake.

https://digiconomist.net/ethereum-energy-consumption

A national digital currency might work different again.

If this truely works, you could get rid of cash. All that metal and paper and distribution fades out. You could end up using less energy over all.

Well that also makes my point. If no one knows about the extra gold, it wouldn’t effect the price of gold until it was noticed there was more of it. It is about the belief of scarcity, not the scarcity.

I’m saying not all cryptos are as damaging. “Proof of stake” instead of “proof of work”, is all about reducing the load. But part of the reason for any mining is so the system is setup to pay those running the block chain. You could just have banks all running it and no payment built in. In fact, if it is for a traditional currency, you don’t want it creating money. It’s just a representation of it, like paper money. For that matter coins are, the metal is worth less than the value (or the coins get melted).

Crypto doesn’t have to be like that. I agree it isn’t a controlled currency. That was by design, but it is why it swings so wildly. I’m unconvinced it will ever stabilize. A country/trade-block will want to have ways to control the value to stabilize it.

As for funny money, well, money is just units of value that people agree the value of. It’s all just belief based. Even if it is gold backed, which I don’t think any are now today. If Musk found a massive gold asteroid, the value of gold would drop as he brought it to Earth. Even if there isn’t really a gold asteroid. Just mass believing there is, reduces the value of gold. Everything’s value is from our believe of it’s use, scarcity and what we think everyone else value for it is. It’s all funny money really!

You can do blockchain without mining. You can do distributed blockchain without mining, just not in the same manner. And it can be cheaper than bitcoin mining, for example proof of stake.

The problem you have with it is really the mining. Not the distributed block chain ledger.

It will be just cash, digitally. No wild value swings or mad mining rush. Money should be boring.

Part of how you keep it like that is you control the supply. Plus with an existing currency, no need to convince anyone anything. Normies go cross eyed when you explain value is all just belief. Economists get that, but they also get the need to be able to stabilize your currency. The belief in that control is as stabilizing as the control of supply of currency.

I just want currency in digital form that is secure and open source. We know how to do that. Have for a while now. Just take a while more to do it.

Death to systems like WorldPay.

Think a few countries are. We’ll get open, trustworthy, p2p digital currency transfer one day!

If also need to be stable. If you want a stable currency, which you do, you need control to correct it. Which is what central banks do. All we really want from crypto is open, trustworthy, p2p transfer.

There would be the mining if the currency is the Euro. Can’t have people making Euros, it would destabilize the currency. So no mining, so different model, with different processing requirements.

I’d prefer it is there was a crypto of the Euro. Then transfers can be peer to peer without any middle man, and middle man costs. With all open technology and assuming zero trust. It won’t have the wild value swings because it is a real, regulated and controlled currency. Take the advantages and leave the anarchism.