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
It's not money. It's not accepted as money anywhere that matters.
It's a market speculation vehicle built on the fucking aether, that you can currently sell easily enough in small quanties in order to get some actual currency that retailers will accept.
But it sure as fuck ain't money. It's just a bunch or techno-utopians huffing farts.
You can buy houses and cars with crypto.
Heard of futures, options and swaps? Aren't they equally built out fucking aether.
It is accepted as payment for goods and services and repayment of debts.