We often mention the insane energy consumption of #bitcoin
, but not enough its insane electronic waste. Bitcoin eats 12 000 tons of custom hardware (useless for anything else) / year. This has a significant role in the current worldwide shortage on electronic components (wafers).https://twitter.com/davidgerard/status/1374302539919847425 …
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The whole fantasy is that as early adopters they'll be aristocrats and all the dumb nocoiners will be desperate serfs
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Which is also a defining trait of pyramid schemes which this literally is
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I can make the exact same argument for rising inequality on a inflationary standard. Look up Cantillon Effect. Bitcoins are actually being gradually distributed amongst the population. The opposite of rising inequality.
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I am sincere here