Except, of course, cryptocurrency isn't nearly as useful as, say, desalinated water.
Except, of course, cryptocurrency isn't nearly as useful as, say, desalinated water.
I'd like to expand on this a bit.
The major problem with cryptocurrency is that the value of a typical coin seems to be ~ the cost of electricity needed to mine one.
This means that a crypto miner turns $1 of energy into ~$1 of wealth.
As far as business plans go, this is an absolutely horrific use of energy. Nearly no other business produces so little wealth, for such a high energy input.
The economy in general, by the way, turns $1 of energy into ~$17 of wealth. [1]
[1] https://www.eia.gov/todayinenergy/detail.php?id=36754#:~:tex....
Everyone who buys the coins are just helping to remove the pandemic stimulus from the economy, which I suppose is its own sort of good.
Heresy!!