- Louis Renault: "I'm shocked, SHOCKED, to find that gambling is going on in here."
- Waiter: "Your winnings, Sir."
- Louis Renault: "Oh, thank you very much!"
That's all I can think of when I read this:
Cryptocurrency Is a Giant Ponzi Scheme
https://jacobinmag.com/2022/01/cryptocurrency-scam-blockchain-bitcoin-economy-decentralization
And, of course:
"Given that cryptocurrencies don’t produce anything of material value, this enormous waste of resources renders the whole enterprise a negative-sum game."
Preach!
@ParadeGrotesque on blockchain: people find transaction processing of value; hence why people pay banks fees to transfer fiat; while not directly producing goods, many financial products are multipliers, that facilitate increased production. In contrast, a tax collector or government bureaucrat are neither producers or multipliers.
@sgryphon
You haven't read the article at all, have you?