Allison's bookmarks (tagged cryptocurrency)

Most recent

The Oncoming Ransomware Storm

"The free flow of money from US banks to cryptocurrency exchanges is the root cause of this pandemic and needs to halt. [...] Imagine a world in which every other month you’re forced to bid for your personal data back from hackers who continuously rob you. And a world where all of this is is so commonplace there are automated darknet marketplaces where others can bid on your data, and every detail of your personal life is up for sale to the highest bidder. Every private text, photo, email, and password is just a digital commodity to be traded on the market. Because that’s what the market demands and that’s what capitalism left unchecked will provide."

cryptocurrency security

Bitcoin is a mouth hungry for fossil fuels – Ketan Joshi

"For the most part, this greenwashing isn’t for us. It’s for those in the community with a guilty conscience and for nervous rich investors and speculators. It ends up so weird and confused because it’s a community of explicitly anti-community, anti-government people clumsily feigning membership on a finite physical planet stocked with other non-Bitcoin people. That’s how you end up with a mix of ‘Bitcoin is a battery’, mixed with ‘STAY POOR CLIMATE ALARMIST SJW’. It is exhausting and unpleasant."

climate cryptocurrency culture

Center for a Stateless Society » No Ethical Activism Under Capitalism: DAOs, DeFi, and Purity Politics

a dissenting view. "Within this obviously capitalist and market-oriented system, are their windows for radicalism or at least harm reduction? To me this is an unequivocal yes (at least on the latter) as long as you don’t subscribe to hyper-campism and the original sin of proximity to libertarianism. Minimally, there are a lot of really cool BIPoC projects popping up."

cryptocurrency politics

[Cryptography] Bitcoin is a disaster.

'So, Bitcoin was a good effort, it deployed some new ideas and technology, and showed that at some scale the "block chain" idea worked, but ultimately, although a successful proof of concept, failed to deliver. It doesn't scale, except by becoming the very thing it was supposed to replace. The more scalable the network becomes, the more centralized it becomes, until ultimately a "scalable" cryptocurrency would be doing things exactly the same way as a credit card processor.'


Web3 is Bullshit

"We’ve gone from the world of abundance in cloud computing where the cost of compute time per person was nearly at post-scarcity levels, to the reverse of trying to enforce artificial scarcity on the most abundant resource humanity has ever created. This is regression, not progress."

cryptocurrency internet web economics

The Intellectual Incoherence of Cryptoassets

"Crypto investments cannot be anything but a zero sum game, and many are actually massively negative sum. In order to presume a crypto investments functions as a store of value we simultaneously need to suppose an infinite chain of greater fools who keep buying these assets at any irrational price and into the future forever."

cryptocurrency economics culture

Cryptocurrency is an abject disaster

"Cryptocurrency is one of the worst inventions of the 21st century. I am ashamed to share an industry with this exploitative grift. It has failed to be a useful currency, invented a new class of internet abuse, further enriched the rich, wasted staggering amounts of electricity, hastened climate change, ruined hundreds of otherwise promising projects, provided a climate for hundreds of scams to flourish, created shortages and price hikes for consumer hardware, and injected perverse incentives into technology everywhere. Fuck cryptocurrency."

cryptocurrency politics technology