web2 boomer

7 Easy Rebuttals to the Crypto-Bro - thank me later link.medium.com/yTlpDLDY4pb

All crypto is 💯 awful. But Bitcoin is *by far* one of the worst phenemonon to arise out of that sewer. Most of the other coins are just VC backed pump-and-dumps, but Bitcoin is an environmental catastrope mixed with a toxic slurry of infantile anarcho-capitalist fantasies.

“It’s called being in the arena. Apparently, and you can look this up, but apparently it’s not illegal or unethical if it happens inside the arena. There are thousands and thousands of people in the arena and you can’t hold them accountable to anything they do in there”

gm

Crypto Leaders Call For Infusion Of 20 Million Dopes To Stabilize Market bit.ly/3Nwh0wG

The New York Times has identified 34 operations known as Bitcoin mines in the U.S., all of which are putting immense pressure on the power grid and creating costs for everyone around them, most of whom have nothing to do with Bitcoin. nyti.ms/3mfvvdL

Crypto: -A sinister plague whose only utility is a tool for criminals; -An epic Ponzi scheme, solely reliant on the Greater Fool Theory for evolution; & -A dire affinity fraud promising financial inclusion to the downtrodden but delivering fiscal carnage. foreignaffairs.com/united-states/…

I did not feel compelled to jump in & explain that Peterson talking about finance is slightly less sophisticated than a committee of antivaxx Canadian truckers lecturing on quantum field theory. But I need to warn the young victims that Peterson is owned by the bitcoin cartel.

The carbon footprint of a single Bitcoin transaction easily exceeds the per passenger carbon footprint of a direct flight from New York to London. On top of that the average e-waste generation per Bitcoin transaction is also equivalent to throwing away an iPad.

Headline says it all

I think the real lesson that @VitalikButerin should draw is that, after a decade, crypto is useless for anything but financial speculation and fraud. Meanwhile there are many usable payment rails: Visa/Mastercard/Amex, PayPal, Venmo, PIX, M-PESA, etc

The killer use case for crypto. economist.com/asia/2023/02/2…

@MApotheker @Carnage4Life it's just predicting what's next. any 'woke mind virus' is in the mind of the disturbed, which often happen to be middle aged men

@Carnage4Life @webtwoboomer I dont get the tech. How is AI supposed to find the biases in its training data? Are we going to build a user feedback loop no I didnt like that answer it s too woke?

Let’s start the year by reflecting on the colossal waste of resources in Bitcoin mining: During 2022 Bitcoin consumed 161 TWh of electricity in total, exceeding a country such as Sweden. Related CO2 emissions were ~90 Mt; again negating the entire global net savings from EVs.

this came true

Bitcoin BTC network has been 51% controlled by two miners for the last 10 days. Three miners have controlled 65% MuH dEcEnTraLizAtiOn

@smdiehl @ahcastor Same - glad you wrote your book , it’s a solid, thorough and evergreen take down, a good document of the era. Just finished in time for the start of the collapse. Good stuff 🙏

I don't blog about crypto much anymore because: 1) Crypto is a topic—like politics or religion—where people are not persuaded by rational arguments. So polemics are largely ineffective. 2) The market collapse will convince true believers far better than logical arguments will.

These thought terminating cliches are getting even more untethered. Don't ask what crypto is for, don't think, just keep blindly building.

@allan_howe Unlimited possibilities!!!

very robust revolutionary protocol. Honestly RSS is better

The Chat.openai.com has shown more user cases in 24h than crypto in 10 years. @zachweinberg @liron