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I could replace your use of “cryptocurrency” here with “Pokémon cards” and nothing would change. Yet you don’t seem concerned with the buying, selling, trading,
by ohbleek 5y ago
I could replace your use of “cryptocurrency” here with “Pokémon cards” and nothing would change. Yet you don’t seem concerned with the buying, selling, trading, owning of Pokémon cards with regard to their utility. You are not the arbiter of utility. Nobody is. If you have no utility for digital cash, great. That doesn’t mean others don’t. You don’t have to play Pokémon if you don’t want to.
- petmon 5y agoCryptocurrencies, unlike trading cards, have large negative externalities. They are causing component shortages, driving up GPU prices, enabling new scams and ransomware, wasting electricity, accelerating climate change. It might be justifiable if cryptocurrencies were providing real economic value, but if we're drawing analogies to Pokemon cards, then they are net-negative value to humanity and we should hope for them to fail as soon as possible.
- cwkoss 5y agoWhat are the negative externalities of central banking and dollar hegemony? I'd argue the externalities of dollar dominance are orders of magnitude greater for enabling crime (and legal antisocial behavior), wasting natural resources and accelerating climate change. GPU prices is totally fair though.