Re:Cryptocurrency Is an Abject Disaster
by 015a on Monday April 26, 2021 @12:16PM
(#26944272)
Crypto miners buy a slab of silicon, plug it in, and its profitable. If this weren't the case, no one would mine it. Cryptocurrency is a fungus; either it will die, or it will eat up as much electricity & high-powered silicon as miners can get their hands on, diverting both from more economically interesting and productive applications. If I have one or two computers; that's enough. I don't need anymore. There is never "enough" computers for miners; they will always want more, because more electricity & computers means more money.
This is not theoretical. This is happening. Its destroying any service which dares to offer free tiers of generic compute. Its had a significant impact on a global silicon shortage the likes of which we've never seen, impacting products from graphics cards and work computers to cars and defense hardware.
That's it; there's no other correct opinion, only incorrect ones. If you support cryptocurrency, you support the environmental collapse of our planet. We don't need it; its die-hard supporters are either profit-motivated or have nothing beyond a grade-school understanding of historical macroeconomic trends and the broad, undeniably negative impact immutable currencies like Gold & Silver had on the average person's standard of living during economic downturns.
This is not theoretical. This is happening. Its destroying any service which dares to offer free tiers of generic compute. Its had a significant impact on a global silicon shortage the likes of which we've never seen, impacting products from graphics cards and work computers to cars and defense hardware.
That's it; there's no other correct opinion, only incorrect ones. If you support cryptocurrency, you support the environmental collapse of our planet. We don't need it; its die-hard supporters are either profit-motivated or have nothing beyond a grade-school understanding of historical macroeconomic trends and the broad, undeniably negative impact immutable currencies like Gold & Silver had on the average person's standard of living during economic downturns.