Far left hatred for crypto seems entirely out of proportion to severity of stated concerns (bitcoin energy use, GPU scarcity).
I suspect this is because crypto is charismatic libertarian megafauna. Thin end of a wedge threatening to undermine all collectivist political action.
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Isn’t it also that it’s creating an even more unequal wealth distribution than we already have? I heard only 3% of crypto currency holders are women for ex
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Yeah that probably at least doesn’t help, though it’s also been one of the most democratic wealth creators. Not pwned by Ivy League children of middle class parents, despite prominence of Winkelvoss twins
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except it may be an excellent tool for funding collectivist action?
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Yeah, it annoys me because Climate Change is a supply side problem, and if the externalities were priced in, BTC mining would automatically drop proportionally. I'm not a big fan of PoW, but it's still silly.
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Even if the concern were well-posed, bitcoin wouldn’t even make the top 20 things to hit for decarbonization
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Or people are just rightly worried about a tech that is hugely helpful to criminals, terrorists and hostile nation states?
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Those aren’t the focal left complaints though. It’s energy and GPU scarcity.
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How much of it is really about crypto itself vs. the personalities of the kinds of people stereotypically associated with crypto?
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