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...
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 and get a good laugh in.
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.
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.
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.
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 ):