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Originally Posted by crocos
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No, no he doesn't. He is showing that he is a typical fat cat banker who has a very rudimentary understanding of the crypto eco system.
Everything he said about
Bitcoin is right. Pretty much ALL of cryptocurrency development is going on other coins - fewer of which require PoW. The big one, Ethereum, does require PoW at the moment, but is moving towards PoS, which is a zero electricity cost game.
The guy's an idiot with his head in the sand. Good riddance.