this post was submitted on 18 Mar 2025
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But crypto is borderline useless that consumes more electricity than the entire AI industry while enabling alot of illegal activities and money laundering. I was quite susprised when my drug money found their way into normal people's lives.
As decentralized money it's great. Even central banks are making their own crypto. It's a great technology for supply chains.
AI and cryptocurrencies consumed around 460 terawatt-hours (TWh) of electricity
Bitcoin is estimated at 155 TWh per year to 172 TWh per year
Given the public and immutable nature of crypto, it's a really bad way to do anything illegal. In 2024 Illicit volume dropped to USD 45 billion, down 24% since 2023. This represents 0.4% of overall crypto transactions
I think you mean, it’d be great if it took off… as money. Right now it’s an investment barely more useful for buying things than corn futures.
Crypto is definitely money.
I think you mean, it’d be great if it took off… as cash. Soon it will be as easy as using Visa.