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The Swarm Lounge
General Investing and Economics Discussion - No Politics
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<blockquote data-quote="RonJohn" data-source="post: 805051" data-attributes="member: 2426"><p>I took a look at it. I am not sure how you decided that it doesn't require massive energy consumption. It uses the same mining process as Dogecoin. There aren't many people using it, and there aren't many people mining it. The big difference is in the difficulty level. Doge difficulty is at about 6 million. Bitcoin difficulty is at about 21 trillion. Flo is about 700. If more people start mining it, the difficulty level will increase. I ran a miner last night, but didn't get any.</p><p></p><p>I also couldn't find an exchange that will trade it. I am not sure how they arrive at a valuation. You can exchange Flo from wallet to wallet, but I haven't found a way to exchange it for a different crytpo or for government backed currency, unless you can find another person with a Flo wallet and make a trade with them.</p><p></p><p>I'll run the miner for a few days to see if I ever am able to get some. I am only using a PC, so odds are slim even at that low difficulty level.</p></blockquote><p></p>
[QUOTE="RonJohn, post: 805051, member: 2426"] I took a look at it. I am not sure how you decided that it doesn't require massive energy consumption. It uses the same mining process as Dogecoin. There aren't many people using it, and there aren't many people mining it. The big difference is in the difficulty level. Doge difficulty is at about 6 million. Bitcoin difficulty is at about 21 trillion. Flo is about 700. If more people start mining it, the difficulty level will increase. I ran a miner last night, but didn't get any. I also couldn't find an exchange that will trade it. I am not sure how they arrive at a valuation. You can exchange Flo from wallet to wallet, but I haven't found a way to exchange it for a different crytpo or for government backed currency, unless you can find another person with a Flo wallet and make a trade with them. I'll run the miner for a few days to see if I ever am able to get some. I am only using a PC, so odds are slim even at that low difficulty level. [/QUOTE]
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