Skip to content

Instantly share code, notes, and snippets.

No, your cryptocurrency cannot work

Whenever the topic of Bitcoin's energy usage comes up, there's always a flood of hastily-constructed comments by people claiming that their favourite cryptocurrency isn't like Bitcoin, that their favourite cryptocurrency is energy-efficient and scalable and whatnot.

They're wrong, and are quite possibly trying to scam you. Let's look at why.

What is a cryptocurrency anyway?

There are plenty of intricate and complex articles trying to convince you that cryptocurrencies are the future. They usually heavily use jargon and vague terms, make vague promises, and generally give you a sense that there must be something there, but you always come away from them more confused than you were before.