A core part of every Crypto scam is the story.
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A core part of every Crypto scam is the story. Quite often it is an elaborate one. It all started with the Bitcoin story, but others, such as DOGE, have their own stories. Quite often people will defend these stories as being true. All the other Crypto currencies and NFTs are a scam, but not this one. Some will just point at high valuations as indicators that it is not a scam, but rather it is just indicators of rather successful scams.
Whatever the story is, the results are the same. The damage done is not small. The idea that Crypto now uses more energy than many countries, when we should be conserving energy, is crazy.
We all have a choice when it comes to Crypto. I decided years ago not to get involved. If I had gotten involved, I would have made a bundle, but I would have been part of the problem and I did not want to do that.
Lets stay away from any products and services that include Crypto. Lets not support this "industry" in any way.
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@jon I don't disagree, but can we now also put the power consumption of all this "AI" into the mix?
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@jon I like the thought of a decentralized currency, but not what cryptocurrencies have turned out to be. More pyramid schemes.
As far as energy goes, we need to go nuclear. Modern nuclear is relatively safe and clean. We need to get away from fossil fuels.
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I think this was all part of the story. A lot of people fell for it. Technically it was interesting, but the end result was at least to me pretty obvious from day 1, which is why I did not get involved.
I do think we need distributed energy solutions. Solar is interesting in that way, but also wind, wave, geothermal, etc. Combined with improved battery technology, I am hopeful we can get there.
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Indeed. AI is too costly and clearly the way it is being used is not helpful. It seems at times the primary use is scam and time wasting.
