Technology

I would argue that the market has been fraudulent for some time now, but otherwise yes

🌍🧑‍🚀🔫🧑‍🚀

Well the head of the EPA called climate change “a religion” so that ship has sailed for the US.

To be fair, the SEC has only really gone after cryptocurrencies other than Bitcoin, which is the only major blockchain that uses the energy-intensive Proof-of-Work. The things the SEC was trying to regulate, that it considered securities, are almost entirely running on Proof-of-Stake networks, which have negligible relative energy consumption.

This will almost certainly have a lot of other negative impacts, but I doubt it will have that much on the climate.

You say that now, but wait for the US economy to completely shit itself.

COVID and the Great Recession were both spectacular for reducing emissions.

It's a good way to launder money. They used to sell coke to fund off-the-books CIA operations, now they can just give them shitcoins.

It's not untraceable, but it's way more anonymous for routine purchases than CC. Also with all the nonsense the CC companies are pulling lately, it's a nice example of why de-centralized, unbanked fiat has real value. Personally I use it for search engine subscriptions and paying VPN fees with at least a layer of "hey, you can't sell my demographic data or send me junk mail" privacy. Also if you want to send money to someone without using venmo type garbage, it's super easy and flexible even if you don't have the same type of crypto as the person you are sending to. It's huge for sending money internationally as there are big fees associated with international money brokers when involving traditional fiat.
The mantra of crypto as a scam is wrong. It's just seriously overvalued and has been turned into scam as an investment commodity. The technology itself, at least modern scalable versions that don't require AI level nuclear power plants to scale, is not flawed. The fact that the archiac unscalable bitcoin prototype is still the most valued is a great example of the mismatch between real world value and the fucked up crypto marketplace.

It's a really good way to bribe politicians and public figures.

Maybe if you want to buy something visa, Mastercard, and Christian nut jobs don’t want you to have. Otherwise it’s a total scam.

If things go as they do, then it'll be your only option soon to pay for porn.

It's easy to transfer to other countries. Ever tried to send $20 to another country like Kazakhstan? It's a nightmare

It was supposed to be the very thing that Paypal become (probably why Elon hedged his bet on it after getting kicked) but it became so inefficient with expensive transaction fees that everyone turned it down. As a consequence, it became a worse version of the stock market.

Mind you, this was before we even before we knew about the environmental damage.

Yes. Can you imagine my surprise when my drug money suddenly became mainstream? You could also buy weapons and order an assasin online.

yep just like all the AI regulations they're deregulating.

Crypto is already largely seen as a scam,

It's more than seen as a scam.