MiCA, ecology and Mint fees.

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Written by

Nouch

The revolution is coming. Proof: I’m here!

2 years ago

Topics: Cryptosphere, Internet, Society, Community, MiCA, ...

The mountain has given birth to a mouse.

The crypto actors can loosen their panties, none has to go undercover - at least, no more than we already do!

Now, what was the issue, deep down?

The proof of Work.
The core concept of mining cryptos throughout a decentralized network, and rewarding the helpers.
Ok, it obviously takes more energy to validate an order if this order has to be checked out by many than if it just goes through one validator.
But…

And here is a big BUT, that I’m gonna detail a bit, below.

Just: I want to make it clear that my first understanding has been do they really want to oppose crypto sphere and ecological issues??
To me, both belong to the solution.
I opened a wallet to save the planet, after discovering Amplivo and it’s work against plastic waste. I will write a complete article about it in the coming days, for this project is so too important to me. The Amplivo team gives me the courage to face my own challenges: since I have been working with them, I know that despite all the stupidity and greed I can see in some leaders, there are great people working hard on solving major issues.
So I don’t want no lobby or rotten politics to divide the crypto actors and the eco activists.

Now let’s see the buts.

. Bitcoin eats electricity and turns it in coins.
So, in a way, your radiator could produce coins.
Or else: couldn’t one turn a mining cryptocurrency device into a radiator?
That is an idea brought by Hasheur, a French Crypto Influencer, during an interview with an retired banker*. Is it so hard to imagine a way to combine both activities in just one item? Or is it that some do not like the idea of everyone potentially creating it’s own money?

. The Proof of Work is not the only operating system in crypto assets.
The Proof of Stake mechanism has came precisely to solve the energy consomption point. See excellent article form Investopedia** to find out how it operates, and what still needs to be looked after. Meanwhile, I’ll just keep my contempt smile for the blockchains architects have already offered enhancements to what is being discussed just now by our officials…

. Producing money has always had a cost. During ages it was made out of shells, then metals… Even paper, when payments have become possible through change notes, was considered as a precious good. With modern technologies poping up, we started to use plastic and electricity. Is anyone around trying to deny it does cost something? Or is it just the banking system that would like not to communicate about the additional price for the planet of a 2FA security?
Funny how it seems to matter when it is about bitcoin, and how it seems to be irrelevant for institutionalized agencies.

. Someone really searched for the sources upon which the law is written. Only one name turned up. A technical expert, able to explain what, where and how he gathered his data? An environment specialist, who’d have looked up at how electricity is produced?
No.
Just a bank employee and his blog.***
I wish it was a joke. I wish someone could proove me wrong.

Meanwhile, I was preparing my first collection of Y.ats.
Have you heard about yats? The latest derivative of the blockchain to flex on the network. It is a domain like kind of system, only with emojis. Now, one can even mint his Y.at as an NFT, and reference it on the virtual Gallery Open Sea.

So I prepared a few, and started minting them on Sunday. The average mint cost was around $17, and the referencing around $32.
On Monday morning, the mint was up to $22, and referring $55…. But during the vote in the European Parliament, both were nearly free. I paid only $1 or 2 for both action!
As soon as the meeting was over, prices rised up as hell: $45 for a mint, and Open Sea was so busy I couldn’t achieve to put my yat on sale.
People did get scared, removed crypto assets, and came back to buy low as soon as the danger was gone.

At the end, I wonder if those leaders realize what is happening as a reaction to their moves.
Do they just understand that all the crypto world has been brainstorming clockwise to reorganize in case they’d shut up the network?
Do they really think it will all stop after just a word from them?
Isn't it obvious there is more imagination on our side than on their side?