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Crypto has social effects (wasting energy production capacity, scams, wasting computer hardware and chip fab capacity) outside of its economic effects that do m
by elil17 4y ago
Crypto has social effects (wasting energy production capacity, scams, wasting computer hardware and chip fab capacity) outside of its economic effects that do make it a big deal.
- cowtools 4y agoI've argued in another thread that we can expect those adverse effects to decrease as hype dies down and the coinbase reward for bitcoin and others decreases.
- benreesman 4y agoYou’re seriously here to make the case that these basis points on the numbers that move real human beings around like pieces on a chessboard is why HN foams at the mouth over cyber-money? The energy cost is debatable (energy displacement is complex), the ASICs used to mine BTC are keeping someone’s Verilog sharp, and scams? There are 17 payday loan places in a 3 mile radius of my house, not counting pawn shops. This is not enlightened humanitarianism. Everyone on here knows an annoying asshole who rubs it in everyone’s face that they’re generationally wealthy over a speculative bet in 2015. I fucking hate intellectual dishonesty. Especially from smart people.