What’s up with r/collapse and this close minded approach towards crypto?
I don’t think I’m going out on a limb by saying that many of you are societal skeptics. This is a good thing and will likely serve you well in the water wars to come. It’s also very likely many will join your position and this subreddit in not only acknowledging but preparing for collapse.
Now, I’ve been involved in the Ethereum space since mid 2017 and it’s proven to be its own experiment in skepticism towards the US centered financial system. For me, I’m in the middle of both worlds where it’s likely we will not be solving the problems life is facing on earth, and where decentralized finance controlled by no one entity is the future. It’s not really a hard position to take when you look at trends for either perspective.
I get that proof of work (as popularized by Bitcoin) is very energy intensive, however many of you do not seem to realize that Ethereum (second largest crypto) is going to upgrade to proof of stake sometime next year reducing energy costs by 99.95%. There’s also the case that once this transition happens the token (ether) will transition into a deflationary coin that removes 1 - 2% of the circulating supply yearly. There’s very little doubt in my mind about its applications over the next 10 years regardless of what happens to the planet.
Now I don’t really need to care about convincing you, this isn’t a dogecoin pump post and it’s about as debatable as the the idea of fixing our climate. I do care about convincing you that this tech will be relied upon when the nation state of your choosing fails. So at least pay attention and observe what’s happening in DEFI. This is coming from someone who really benefited from these services throughout the pandemic.
Posted Jul 11, 2021, 3:14 AM UTC · edited
This should be self evident.
It is a waste of energy.
It is/will continue to exacerbate climate change, for imaginary "wealth".
It feeds into the cycle of greed that needs to be broken, but probably never will...sealing our fate.
It sums up perfectly what is wrong with the "world" (humans...we mean humans...when we say that BTW)
Lmao this is the top comment, so much ignorance, this is the kind of person that thought the Internet was a fad
You realize that on this forum we have actual neo-luddites right?
There are people on this forum that will straight up, unironically quote Ted Kaczynski...
It's not the only view here by any means, but there's a decent chunk that think industrialization itself is self terminating...
I'm not sure based on your comment if you actually understand what these people are saying, because fad doesn't reflect their understanding of cancerous growth.
Some of us, we don't hate technology on principle, but Crypto has a lot of black marks against it that the maximalist hand wave away.
It reflects an even deeper and more disgusting transition than fractional reserve banking in my humble opinion. Crypto is literally money where proof of ownership is possession, and if you can't see the problem with that, then we've got some divergent worldviews.
Yeah, I have built computers from components for over two decades as a side hobby, but you are right, I thought the "Internet was a fad"
Moron.
I’m talking about a network that is going to reduce its footprint by 99.95%. I don’t expect you to know that, but just know it’s not a valid point.
Cycle of greed. Hmm. I think what you mean is cycle of non-sustainability which I completely agree with.
I said what I said. We blew past sustainability couple hundred years ago. Greed is the root problem. Always has been.
I don't care how efficient it "will get eventually" one watt used for this bullshit is one watt too much.
All currency, especially crypto is a waste of time and effort, and crypto has the bonus feature that it is actively killing us. So that's a step up I guess.
Good luck creating an economy based on bartering with goods and services. You're reeeaallly gonna need it.
it sounds like you think that the plan is to like collapse and then rebuild right back or something. I don't think that is how it will work out. I think we are in for a more permanent kind of collapse.
Alright well I like to root for a technology that’s going to make driving to an ATM obsolete, along with every banking institution.
Alright, well, I would like to have a habitable earth.
It also annoys me people are wasting brainpower on this stupid shit and not more important and pressing issues that could truly improve life for all, not just a select few.
For no more than one more year until Ethereum moves away from wasteful Proof of Work consensus algorithm to the uber efficient Proof of Stake algorithm as OP outlined in his post.
You can't call crypto imaginary and pretend that most of the value behind gold or the dollar isn't imaginary. All money is largely imaginary by definition. Money is a shared belief that something of limited utility/value has more utility/value than it really does. Ultimately, unless you're trading in food or resources you really need, there is an enormous amount of imaginary value in money. You can't eat gold and when the whole world is starving, most people won't value your gold as they used to. So in a collapse scenario, most monies will be as worthless as crypto. The only difference being that where crypto will lose 100% of its value, gold may lose 90%. But as I said, what good is a tiny bit of gold in a world where food is the real scarce asset?
You're absolutely right. Greed is inevitable. But if we are looking out for ourselves here in a post-collapse world then you want to be greedy so I don't see how this argument works against a decentralised finance platform which could survive (and likely even thrive) in a world after a collapse of the traditional financial system.
I know that, don't try to school me.
Stop shilling this bullshit here. It is not welcome by many of us. Stop trying to convince us. Just. Stop.
You guys asked, I answered with my reasons. Just because you don't like them, well....tough shit really.
Then you discuss us, as if we aren't here talking, about what you believe we know and don't know.
Just STFU for real.
Wow, I really don't understand why you took that so personally! All I was doing was spreading some facts about a commonly misunderstood technology and you responded as if I insulted your family or something lmao.
"Some facts" bro!
You people in here are like leftist q-anons. This is hilarious. The banking system consume waaaaaaay more energy than crypto does. Yet you buy into this media bullshit about crypto being a yuge energy thief. Absolutely hilarious.
Yeah we don't like the global banking system either. It is a huge waste of energy.
“The global banking system is a huge waste of energy but we arbitrarily don’t like crypto either, so we’re gonna side with banking”
No, you're not listening. Both are a huge waste of resources, because capitalism is a huge waste of resources. I HAVE to participate in capitalism and the traditional banking system in order to acquire food and shelter in the region of the world I'm located in. I can't pay my rent in cash, and my employer won't pay me in cash. Or fucking ETH for that matter.
So basically I have to have a bank account to be a person. Due to my line of work I also have to have a smartphone with me at all times. If I don't like that, I can be homeless. It isn't safe to be homeless where I live. So realistically I can either play the game or I can fucking die. And in short order, those choices will also amount to the same thing because capitalism, in its current form, is a suicide cult.
Look man, I get it. I've been a computer guy my whole life. I really wish that crypto could solve the problems with the global banking system. Maybe it can. It doesn't fucking matter though, because you can't eat money.
Enjoy your lambos while the biosphere collapses around you.
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