Yes, crypto is a climate disaster and preys on the financially illiterate. But at least it's allowed Kim Jong-Un to steal the equivalent of $6 billion to spend on his nuclear weapons program.
Comments
Log in with your Bluesky account to leave a comment
I find it extraordinary that serious commentators endorse these fraudulent fake money scams. They generate no value of any kind and waste vast amounts of energy.
Oh Dr… Bitcoin is regulated as a commodity in the eyes of the SEC. The whole notion that it’s for drug dealers is trope started by bankers and govt’s of the world to try and slow its adoption as they fear it.
Over 95% of the on-ramps and off-ramps are KYC/AML at this point. It’s a public ledger, every transaction is in stone for the past 16 years. It’s the last place any savvy criminal is going to try to hide anything. USD and other “cRyPtO” are far better.
In lay terms, consider 20 million horsepower per second. It’s the base layer network for a new digital financial system, everything else will be built in layers on top of it. As with TCP-ip has http, ftp, email, https… etc.
I’m happy to debate those points. Do you remember a few months ago almost the entire traditional banking system came to a screeching halt because of a bad code release? Bitcoin is truly decentralized at this point, the most powerful, most secure network on the planet. That’s also its utility.
Don’t forget the $Trump sh-tcoin that allows anonymous payments directly to Mango Mussolini
“When the President does it, it’s not illegal”
Guy from Tatoo on Roger Stone’s back (sorry about this…)
#Algorand is environmentally responsible and worth looking at. In fact, it's being used by HesbaPay in Afghanistan to pay electricity bills. Not all "crypto" is trash, but most are.
Comments
Crypto isn’t just a scam or a climate threat, it’s a gift to authoritarians, arms dealers, and kleptocrats.
When financial fantasy meets zero regulation, people lose their savings, and regimes like North Korea fund weapons with it.
What a deal.
Thank you for engaging.
I hear you, and yes, you’re right, Bitcoin is regulated as a commodity now.
But let’s not pretend the crime angle is just a myth.
That early association is real, and regulation doesn’t magically turn it into a stable, widely useful currency.
We clearly see this differently.
I’m all for innovation, but I’m not convinced Bitcoin is the answer.
Appreciate this exchange.
KYC/AML has come a long way, and the transparency of the ledger is real.
But I think that just reinforces the point: it’s not some utopian alternative anymore.
The criminal reputation might be outdated, but the stability and utility questions are still on the table.
Bitcoin is not responsible for criminal activity just as no one wants to ban the US dollar because people commit crimes with it
As Bitcoin's value increases, the power of oligarchs decreases
“When the President does it, it’s not illegal”
Guy from Tatoo on Roger Stone’s back (sorry about this…)
https://algorand.co/technology/sustainability