Crypto was invented as a fully decentralized form of keeping and spending money, not as an “investment” (really, gambling) instrument as it is used now, so I fully agree crypto isn’t evil, it’s how it’s currently used that’s a problem. Proof-of-work though is evil, due to its energy requirements. Thankfully some coins (e.g. ethereum) are switching to proof-of-stake which doesn’t waste energy for nothing.
Proof of stake is making the crypto centralized by the stake holders, also the ethereum blockchain size is huge compared to Bitcoin, making it even more centralized because less people are willing to volunteer except the stake holders.
Or alternatively in actual first world countries you can just send money to people through your bank, for free. Hell in some third world countries they fuckn text their money around.
Until the banks (or the government, or someone more powerful than you) decides you shall not use your money and those funds get blocked. Or maybe you don’t want to tell your bank, or the government, what you do with your money. Yes, there’s cash, but it’s going away. And please don’t tell me “you have nothing to hide, so nothing to worry”, there’s plenty of legitimate reasons for privacy.
If people stopped thinking about crypto as “EaZZy MoNey” and instead, just treated it for what it was meant for, as a currency, it could actually be useful. But please let’s get rid of proof-of-work and energy waste.
Yeah use those "to big to fail’ having banks be integral to the system is a definition to first World. Not sure that’s the dis you hoped it to be. Haha, you don’t have banks too big to be capitalist they have to be socialized…
Zelle (/zɛl/) is a United States–based digital payments network run by a private financial services company owned by the banks Bank of America, Truist, Capital One, JPMorgan Chase, PNC Bank, U.S. Bank, and Wells Fargo.
A lot, but the solution exists, and it doesn’t require getting rid of crypto coins, it’s called proof-of-stake. Then maybe people can stop building stupid mining rigs …
I wonder how much pollution has been created for crypto.
Per Wikipedia:
Their source: https://www.jbs.cam.ac.uk/2022/a-deep-dive-into-bitcoins-environmental-impact/
That’s just bitcoin, I don’t know how that translates into all cryptos.
Now that’s still a decent chunk but not really a blip on the breakdown chart: https://ourworldindata.org/ghg-emissions-by-sector
For example, landfills generate almost 2%.
Wow imagine two different kinds of garbage having such a different impact on the climate
At least crypto is allowing people send money without relying on paypal or other big tech.
Crypto was invented as a fully decentralized form of keeping and spending money, not as an “investment” (really, gambling) instrument as it is used now, so I fully agree crypto isn’t evil, it’s how it’s currently used that’s a problem. Proof-of-work though is evil, due to its energy requirements. Thankfully some coins (e.g. ethereum) are switching to proof-of-stake which doesn’t waste energy for nothing.
Proof of stake is making the crypto centralized by the stake holders, also the ethereum blockchain size is huge compared to Bitcoin, making it even more centralized because less people are willing to volunteer except the stake holders.
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Hey did you notice how people only give a shit about bitcoins emissions when the price goes up? Funny that
Or alternatively in actual first world countries you can just send money to people through your bank, for free. Hell in some third world countries they fuckn text their money around.
Until the banks (or the government, or someone more powerful than you) decides you shall not use your money and those funds get blocked. Or maybe you don’t want to tell your bank, or the government, what you do with your money. Yes, there’s cash, but it’s going away. And please don’t tell me “you have nothing to hide, so nothing to worry”, there’s plenty of legitimate reasons for privacy.
If people stopped thinking about crypto as “EaZZy MoNey” and instead, just treated it for what it was meant for, as a currency, it could actually be useful. But please let’s get rid of proof-of-work and energy waste.
Yeah use those "to big to fail’ having banks be integral to the system is a definition to first World. Not sure that’s the dis you hoped it to be. Haha, you don’t have banks too big to be capitalist they have to be socialized…
Zelle (/zɛl/) is a United States–based digital payments network run by a private financial services company owned by the banks Bank of America, Truist, Capital One, JPMorgan Chase, PNC Bank, U.S. Bank, and Wells Fargo.
A lot, but the solution exists, and it doesn’t require getting rid of crypto coins, it’s called proof-of-stake. Then maybe people can stop building stupid mining rigs …