As interesting as all this detail might be to some, from the beginning I thought crypto was a ponzi-like scam. It's unfortunate that millions have lost billions in the con. But the size of crypto generation's contribution to global warming is criminal.
If I wrote conspiracy thrillers instead of utopian science fiction, I'd write one about the Fossilista executive that came up with the scam to sell more coal generated electricity.
Crypto, the original dictionary meaning before the emergence of cryptocurrency: a person having a secret allegiance to a political creed, especially communism.
Hmm, secrecy and sneakiness, while using up huge amounts of energy, just to evade the global banking system to launder money, avoid taxes and oversight. What could go wrong?
Bizarrely, none of this has affected the market value of cryptocurrencies, particularly Bitcoin, which has risen strongly since the most recent scandals. Sanctions evasion was the last remaining use case, and now it seems to be gone. But, presumably there are still people coming into the market in numbers large enough to replace those leaving.
The interesting but presently unanswered question is how many whales will need to be caught before crypo-currency loses it's appeal to sanction busters? I don't know anything near enough about finance to make a guess on that but it does seem to me that the big whales seem to be reasonably easily caught/tamed. Perhaps they can't afford stables of expensive lawyers in the way that regular banks can.
As interesting as all this detail might be to some, from the beginning I thought crypto was a ponzi-like scam. It's unfortunate that millions have lost billions in the con. But the size of crypto generation's contribution to global warming is criminal.
If I wrote conspiracy thrillers instead of utopian science fiction, I'd write one about the Fossilista executive that came up with the scam to sell more coal generated electricity.
Crypto, the original dictionary meaning before the emergence of cryptocurrency: a person having a secret allegiance to a political creed, especially communism.
Hmm, secrecy and sneakiness, while using up huge amounts of energy, just to evade the global banking system to launder money, avoid taxes and oversight. What could go wrong?
Bizarrely, none of this has affected the market value of cryptocurrencies, particularly Bitcoin, which has risen strongly since the most recent scandals. Sanctions evasion was the last remaining use case, and now it seems to be gone. But, presumably there are still people coming into the market in numbers large enough to replace those leaving.
The interesting but presently unanswered question is how many whales will need to be caught before crypo-currency loses it's appeal to sanction busters? I don't know anything near enough about finance to make a guess on that but it does seem to me that the big whales seem to be reasonably easily caught/tamed. Perhaps they can't afford stables of expensive lawyers in the way that regular banks can.
I just read the footnotes. Pretty telling ones I think!
I've seen many crypto accounts on Twitter begging for the government to step in and protect them from rapacious rip off artists.
But I thought the whole draw of crypto was because it was unregulated!