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Crypto has unleashed an epidemic of greed. Only people with a feeble understanding of the world, economics and finance will seriously engage with the idea one c
by throw2016 9y ago
Crypto has unleashed an epidemic of greed. Only people with a feeble understanding of the world, economics and finance will seriously engage with the idea one can make money out of thin air, wasting electricity.
The only way crypto gains value in the world we live in is if established interests decide to support it, at which it point it perpetuates entrenched interests and is subsumed into the whole.
So bitcoin is not going to disrupt anything. And all the 'revolutionaries' and 'liberatarians' who spend hours sitting idly in front of their PCs mining and then let loose periodic outbursts on 'freedom' and 'innovation', will happily cash out to the devil himself quietly burying their incredible claims.
- julian_1 9y ago> Only people with a feeble understanding of the world, economics and finance will seriously engage with the idea one can make money out of thin air, You don't need an econ degree, to understand fiat money multipliers but it helps, https://en.wikipedia.org/wiki/Money_multiplier https://en.wikipedia.org/wiki/Money_multiplier > wasting electricity Is it fair to cite this as a blanket criticism, given the number of projects seriously looking at non POW consensus?