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One of the greatest utilities of cryptocurrency is the ability to monetize energy where it's cheap and expensive to ship it out of country. It effectively mone
by davebailey 5y ago
One of the greatest utilities of cryptocurrency is the ability to monetize energy where it's cheap and expensive to ship it out of country.
It effectively monetizes the inefficiencies of the energy markets.
- mabbo 5y ago"Ship it out of country" in what sense? It burns the energy, providing no real value except that the coin 'exists' on the ledger. You can't use the coin for any real purpose. Crypto finds where energy is cheapest and then ensures that it isn't cheap anymore.
- salmonlogs 5y ago> "monetize energy where it's cheap" This is also directly responsible for increasing levels of fuels poverty and inequality. Driving up the cost of energy forces people into making decisions on whether to heat their home, cook their food, and how they live. The direct human impact of this is really hard to justify because some capitalists in the western world want to make a few bucks.