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.
I’ve lived through 3-4 waves of observing wealth creation waves. Never seen one that’s as close to an equal opportunity lottery as this. The most visible techbros are not a representative sample. I’ve met the weirdest people who spotted it early and got in good.
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Yeah I don’t mean the variety of individuals and their features. I mean accessibility to the majority of people. A tiny fraction of humans own bitcoin even now, and more than half of all possible bitcoin is already owned. The rest to trickle over decades.
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That’s why it resembles a Ponzi scheme. Any future adoption only causes increasingly dramatic wealth distribution to the few early adopters.
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