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diff --git a/org/blog/articles/current-state-of-crypto.txt b/org/blog/articles/current-state-of-crypto.txt new file mode 100644 index 0000000..c97ffd3 --- /dev/null +++ b/org/blog/articles/current-state-of-crypto.txt @@ -0,0 +1,74 @@ +### Why crypto sucks + +There are two types of crypto users: the peep who wants more privacy and the +libertarian. The libertarian makes life harder and worse for the peep who +wants more privacy. Libertarians are the ones who over all control the status +quo of crypto. Now you have a very good understanding of the issues with +crypto the blog post can just end here. You want more details dont you? Ok you +greedy bastard who cant use a search engine... + +### Mining + +I dont think anyone ever have or ever will create a more fancy way to waste +computing power. These mother fuckers buy a bunch of gpus just to overclock +them and leave them running at full power until they melt. I once heard a +story about the gold miners in old times along the lines of everyone wanted to +make money mining gold so they bought all the gear and started looking for +gold. Most never found much but reguardless people kept buying gear to go gold +mining and because of this the people selling the gear were getting rich while +all the miners were just getting poorer. The same happened with crypto mining. +Nvidia made a hell ton off selling hardware to mine coins barely anyone uses +for anything practical. Sure there are people who do make money mining but +those are people who have the money to spend an insane amount on a mining rig +in some datacenter in a third world country while they sip their wine in a +first world country. It isnt like nvidia is trying to hide it either. Just +read [ this article +](https://www.theguardian.com/technology/2023/mar/26/cryptocurrencies-add- +nothing-useful-to-society-nvidia-chatbots-processing-crypto-mining) and get a +good laugh in. + +### Trading and investing + +This is the main thing most people seem to think crypto is for: trading it +without ever using it to buy and sell anything besides other cryptocurrencies. +It only manages to make crypto more unstable and less usable as a currency. +For years it was the libertarian dream to completely cut out real resources +and real production of goods and services. A simulated economy that somehow +manages to bring real money into their fat wallets is what they wanted, one +that just like capitalism outside cyberspace starts out in a state where even +your average joes are making money but as shittification takes hold all the +money only makes it into wallets that are already fat. To most this seems like +a mistake but the libertarians designed it that way and wouldnt want it any +other way. + +### Crytpo brokers + +This is what made me to decide to write this blog in the first place. I was +using coinbase to get some bitcoin so I can hop on p2p networks to get some +monero. Normally this works fine but coinbase randomly went "fuck you!" and +started throwing error messages at me when sending bitcoin. Tried to withdraw +same deal. Used their resources to find out why this was happening but their +piece of shit chatbot wouldnt do much. When I asked for a real person it +"upgraded" me to a slightly better chatbot. Decided to look into it and found +out most of the big _"trustworthy"_ brokers will lock up during times trades +will not be in their favor. They often do this simply by bricking their site +when a trade they dont like happens. These types of brokers often use KYC to +decrease privacy. p2p networks can solve this though you often have to already +have some crypto to use them. + +### Monero, the only decent crypto + +Unlike all other cryptos monero is kind of usable for actually buying and +selling things. Its a bit more stable and faster. Its designed to fuck over +gpu mining and force people to mine on cpu instead to prevent the mining +madness of most crypto. If you want a private currency monero is the only half +decent option. Its still not perfect but in a world where FUCKING TERRIBLE is +the norm half decent is a blessing. + +### To sum things up + +Like most things in this world crypto was fucked by libertarians. Though if +they werent fucked crypto as we know it is still just a reaction to the +nightmare we call national currencies and banking. This is why we cant have +nice things ): + |