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I, too, am suffering Bitcoin-headline-fatigue, to the point where I was glad to see machined QR bitcoins b/c I could finally tell people to kindly shove them wh
by diydsp 13y ago
I, too, am suffering Bitcoin-headline-fatigue, to the point where I was glad to see machined QR bitcoins b/c I could finally tell people to kindly shove them where the sun don't shine.
HOWEVER, just b/c I'm exhausted, I don't think Stross' points are valid or limited to Bitcoin in the least. He might want BC to die in a fire, but BC isn't doing anything special that cash/gold isn't/can't be doing. Here is an overview of his points:
> 1. Mining BtC has a carbon footprint from hell
> 2. Bitcoin mining software is now being distributed as malware
> 3. Stolen electricity will drive out honest mining. (So the greatest benefits accrue to the most ruthless criminals.)
> 4. Bitcoin's utter lack of regulation permits really hideous markets to emerge, in commodities like assassination (and drugs and child pornography).
>5. It's also inherently damaging to the fabric of civil society.