I've noticed some otherwise very smart people have developed an almost cult-like antipathy to blockchains. The closed loop logic looks like;
Them: blockchains are evil and wrong because use huge energy
Me: point to peer-reviewed evidence that different blockchains have wildly different energy usage and that usage per user or transaction actually drops off after a certain scale is reached
Them: blockchains use huge energy for no legitimate uses
Me: points out a couple of arguably legitimate uses
Them: these projects are bad for using a blockchain because huge energy use
Me: points to earlier post about energy usage.
Them: but that's still huge energy use for no legitimate uses
Etc etc
Maybe those "otherwise very smart people" know CAP theorem?
Or maybe they know a #Ponzi scheme when they see one?
Or at least when crypto bilionaire explain #DeFi as Ponzi schemes?
Or maybe they remember #TheDAO, that proved once for all that #blockchain can be rewritten?
Or maybe they know several better alternatives to any application of blockchain (except for scam)
Or maybe they know #PoS based cryptocurrency are institutionalozed plutarchies?
Or maybe they know PoS assumes people having their highest stake on-chain (that is NEVER the case)?
Or maybe they follow closely the matter since years (I started somewhere in between 2009 and 2012) and saw countless ICOs turning as plain scams?
Or maybe they know about #Tether?
You focus on the huge waste of energy of but in fact you are ignoring the legitimacy criticism of #cryptocurrency.
Yes the cryptoindustry waste a huge amount of energy even if you do not count the one wasted in marketing, propaganda and lobbying.
But that's just one of the issue.
