this post was submitted on 21 Sep 2023
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Yeah you right, I didn’t mean it in that way. Actually I completely agree with you, except with the caveat that USD does work the exact same way, but the value assigned to it is agreed upon by wayyyyyyy more people, and backed by the government (but again that’s just a group of people with a lot of power). But all currencies work that way, hence exchange rates.
We can only exchange little green papers for actual goods because everybody agrees it’s worth something, hence why they can turn around and exchange it for whatever they want. Crypto doesn’t have the same history or consistency, and in a slightly hilarious way it looks like it never will, opposed to what many people thought. Yeah, I don’t understand people that are intensely dogmatic about things, like change your beliefs with emerging evidence yes? Crypto bros: it’s still the future bro! It’ll happen!
@Pinklink @kibiz0r and in the meantime, cryptocurrencies have power usage comparable to whole countries to do what they do (which is not terribly much).
What? Are you saying that insane amounts of electricity goes into processing new blockchain nodes and the fossil fuels burned to create that electricity it absolutely horrendous and continuing to contribute to climate change at a time when we need emergency measures to mitigate (notice I didn’t say prevent) harm done to the planet while contributing nothing to actual economics and society? Cus if so: yes.