It's probably no surprise that I hate everything about crypto. I've had the word muted on every social media where that was possible.
My original objection came from climate concerns: the computing power needed for crypto is a complete waste of energy and water, not to mention the embodied carbon of the computers and buildings in the server farms.
But it's also a Ponzi scheme scam set up for sociopaths to prey upon the weak, and now it's getting worse, as the incoming Trump administration plans to create a U.S. government-backed reserve with our tax money, shoveling it over to rich crypto-holders.
This 8.5-minute video from Chris Hayes lays it out. The "present" in this post's title refers to a bill already introduced in the U.S. Senate to create a federal crypto reserve:
As Hayes says, the plan would "turn a speculative asset into real cash on your dime... It's an enormous heist."
No comments:
Post a Comment