Those who think that Bitcoin or other cryptocurrencies are better than money, understand nothing about this trade-based society. Currencies only represent trades, and trade is what pushes people to create so much destruction in the world. Also, to "mine" cryptocurrencies and spend so much energy doing that, more than countries of hundreds of millions of people, is simply insane. What these "miners" do is "solving" irrelevant mathematical problems to see what computer is first to get some rewards for that. Just to create more currency and "distribute" it in a very unequal manner to those who have the most powerful computers.



TROM cuts through this shit like a hot knife through butter, because TROM focuses on "trade as the origin of most problems", and not money.

#tromimg

@trom
I think most people are leaning towards crypto currencies because of privacy reasons, and I get that. But I'm disappointed to see no one talking about its environmental effects.

I like everything to be as resource efficient as it gets, its almost like an obsession for me. And there's nothing that hurts me more than seeing humans waste their energy like this.

Imagine humans becoming a type 1 civilization & using that energy for mining crypto currencies, things that have no physical value.

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@futureisfoss
The truth is, it's not private... you need sms verification to even purchase from atms where i'm from. Add to that, the fact that you are now relying on exchanges, see bank, who you have to trust... then when lights go out you lose everything.
@trom

@lps
Yeah, even though many of these things are private in theory, it doesn't mean it'll be like that in practice. Overall, I think making a currency private is easier said than done.

I'm always is support of privacy and decentralization. But when it comes to crypto currencies, I just don't think its worth the effort. We're getting privacy at the expense of these environmental issues, and that too is only private in theory. Clearly, the consequences outweigh the benifits here.
@trom

@futureisfoss @lps But I'd say the most destructive power is the incentive behind a currency. The incentive is always to trade, and eventually trade means waste, climate change, slavery, corruption, and a ton of issues as we detailed in so many books. I'd say, so what if a currency is private and very secure....it serves the same purpose of trading. How is that better? :)

@trom
This is what I initially said, most people are moving to crypto currencies for privacy reasons. They're not trying to remove the incentive behind currency or its destructive power. Maybe they don't understand the problem like we do, or maybe they don't care.

Either way, I wanted to speak from their perspective. Even though we say trade is the cause of most problems, we're not even close to ending trade. For now, I think its good to talk about environmental issues & reduce harm
@lps

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