this post was submitted on 20 May 2024
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Right, his talk about how he's not very good at computers is pretty funny. I don't understand the crypto hate on Lemmy. Although I guess I don't understand a lot of why things are hated here. I guess crypto is too close to capitalism maybe? Freedom is frowned upon here.
I hate it in part because its adherents seem intent to relearn all the mistakes of the free banking era and constantly evangelize long-debunked economic theories. It’s like the goldbuggism of libertarian cranks of yore.
Also, for Bitcoin specifically, the extra demand for electricity raises rates for nearby residents. It’s essentially a transfer of wealth from ratepayers. A lot of them are in Texas and if you think Texas has “excess capacity,” then explain why they literally pay bitcoin miners an absurd amount not to mine when there’s a cold snap or heat wave.
I could go on about fraud and money laundering but I think being dumb as shit and raising electricity bills is plenty reason to hate it.