this post was submitted on 27 Jun 2024
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Probably because the overwhelming majority of people see crypto as a scam, and the market share for its use is trivial and better facilitated by actual currency. As well, it’s extremely volatile and the flagship coin recently halfed itself. It’s probably one of the worst things a company can accept in exchange for goods or services.
Do you know what halving means? It's not a stock split and it's not a value halving.
Ah, so the people creating essentially get paid half for the same amount of work. That’s WAY better lol. Yeah, I’m not super into knowing so much about faux currency. I tend to deal with the real kind. So please pardon my mistake 🙏
Here's some more 101 info: Computers do the work, not people.
Oh, are you talking about the insanely high non-renewable energy used to mine coin and distribute, which is way beyond even AI?
Because I think it’s pretty evident that the coin halving heavily impacts our environment as it now takes twice as much energy to create the same value.
Actually giving a shit about the Earth 101 for ya.
They said, having zero knowledge of the subject and nothing at all to back it up.
Better crypto use the power than AI.
Ok, techbro lmao. Crypto using more fossil fuels in 2020 than AI will three years from now is a heck of a hill to die on.
LoL, no with stock splitting you get the same value only with more stocks that can go up in value eventually. This is worse cause the same amount of work*(arguably more considering how many server farms are out there mining the same coin now as opposed to back when it started)* for half the value. So, in a very real sense it does actually halve the value. And that's not even looking at the fact that crypto currency has no inherited value. It's not backed by anything but the investment of interest by crypto bros and shady groups looking to hide transactions and assets.
Why mention something you don't understand at all?
What, you mean I read a headline and repeated it in the wrong context? Damnit. I totally should have wasted 20 minutes reading further about a faux currency that I can’t even buy groceries with
Nah, way better to just spout off misinformation about things you won't even take 20 mins to educate yourself about.
Ah, making a mistake is spouting misinformation. I see you love hyperbole! I’ll be sure to tell my high school students when they get quiz question wrong their answers are misinformation because they didn’t study. See, I like hyperbole, too
You didn't "make a mistake", you admitted you have no idea what it meant, chose not to take a mere 20 minutes to understand it, but chose to spout off about it anyways.
This isn't a quiz, you aren't required to post about things you are ignorant of.
Complete ignorance is pretty standard among anti-crypto extremists.
The old perception is reality, while your not wrong, still means decent institutions are losing out on funding options.
Credit cards were seen as a scam at one point because scary digital currency. Same with torrent protocol. To be honest I'm suprised lemmy doesn't accept it for server donations.
So its either stay with the current model which is visibly dying or find another way
I mean, I don’t think accepting crypto would make or break any organization beyond a niche mom and pop operation. If they would die without accepting crypto, they are likely not going to be saved by it. I doubt there are many people, especially in the USA, who would or could only donate via that option.
In my personal opinion, crypto IS a scam and every organization would be best served dealing in real currency.
iTs A sCaM
If I can’t buy groceries, pay rent or medical bills with it, it’s in not a real currency. If I can’t bail myself out with it, it’s not a real currency. But sure, somehow paying money to get faux money that can’t really practically pay for my needs, and then needs to be reconverted to real currency to take care of my needs is somehow not a scam.
Also, I’m sure you’re super cool with the insane non-renewable energy cost of bitcoin mining and distribution. It far outweighs the energy cost of AI that everyone is complaining about.
So any other fiat currency not your own is not real?
If you do end up with "real" money, where's the scam?
Got evidence to support that? Not all cryptocurrencies rely solely on mining.
FYI i'm not defending cryptocurrencies, most do seem scammy, i'm just poking fun at dealing in absolutes and talking out of one's ass.
No, any currency that is not widely accepted and is not able to be used to pay for necessities is not a real currency. Fiat currency is government issued. Crypto is in no way a fiat currency.
Let’s see… extreme volatility, lack of regulation, lack of consumer protection, the fact that many ICO’s have turned out to be scams really points to crypto being a scam. Not to mention that whatever profit you think you made in no way offsets the damage to the Earth from using more non-renewable energy than even AI (which is saying A LOT).
Bitcoin- 173.42 terawatt-hours used in 2020-2021. It has increased since then.
UN Study: https://unu.edu/press-release/un-study-reveals-hidden-environmental-impacts-bitcoin-carbon-not-only-harmful-product
AI is estimated to ramp up to using 134 terawatt-hours by 2027. This means they use much less than that now, and are estimated to be below 2020’s bitcoin power consumption after ramping up for 3 more years.
Study, paywalled but with sources listed:
https://www.cell.com/joule/abstract/S2542-4351(23)00365-3?_returnURL=https%3A%2F%2Flinkinghub.elsevier.com%2Fretrieve%2Fpii%2FS2542435123003653%3Fshowall%3Dtrue
Bitcoin also uses over 60% non-renewable resources compared to AI which much more heavily leans into renewable in data centers. It’s not even a contest, crypto is extremely bad for the environment.
This guy understands what state currency and freedom really mean.
Ah yes, the dying media will be saved by the currency that doesn't have widespread support.
This is linux style thinking. The whole "I see the advantage of this way, and maybe it even is a more efficient way of doing things, but without widespread support I'll continue to be baffled by why others don't see the world the way I do".