Cryptocurrencies have shown that you can transform energy into money without any of that messy middle step of doing something useful.
That service is useful for some people.
You can of course disagree. Just like you can disagree that building and fueling yachts for rich people is useful.
On the point of double spend - collusion in bitcoin mining is very possible and decentralization is not as strong as claimed. There are tons of studies about this.
https://cowles.yale.edu/3a/parlour-miner-collusion-and-bitco...
Agreed, they have essentially nothing in common apart from the name.
> Have one look at one photograph of a crypto mining farm for one second and this will be obvious to anyone.
Why? You can get pretty bad pictures of eg factory farming, too; still that doesn't mean people will stop eating factory farmed meat.
> On the point of double spend - collusion in bitcoin mining is very possible and decentralization is not as strong as claimed. There are tons of studies about this.
The pdf you linked says nothing about double spending.
I don’t know if it’s your English, but you just said you agreed that crypto mining is an offender on the level of other forms of mining.
> Why? You can get pretty bad pictures of eg factory farming, too; still that doesn't mean people will stop eating factory farmed meat.
Except there are people who stop eating meat, reduce their intake, and there are advances in meat alternatives in the market. This is whataboutism 101. It’s quite frankly ignorant.
> The pdf you linked says nothing about double spending.
The PDF I linked is about bitcoin mining collusion, one of bitcoin’s flaws. If you knew anything about collusion and the consequences of a potential 51% attack, double spending is one of the central topics.
Your entire post sounds like paid misinformation.
I wish.
At least with crypto we know where the money is going and potentially how it is spent.
I can’t believe people still argue against cryptocurrencies in 2022 when it has completely proved itself superior to fiat in every way possible, including overall energy usage.
You would be mistaken to think that Musk fans are in large part anti-crypto. It’s a weird notion for you to even submit.