All you bitcoin shysters can keep telling yourself that to sleep at night, but you are lying to yourself and you know it.
Bitcoin consumes massive amounts of energy for a pathetically small amount of transactions per second. ON a per transaction basis, Bitcoin uses several orders of magnitude more energy than anything used by modern day financial systems.
Like, embarrassingly, shamefully large amounts of electricity. Y'all should bow your heads in shame for the harm you are doing to the world.
> The service it provides is to guarantee the integrity of the blockchain without the requirement of a central authority.
The blockchain, whose only use case is to enable rampant speculation and amazingly large quantities of fraud.
The whole "space" needs to go away.
But if the new system is better than the old one, why would comparing it to the old one imply that anyone using the new one should be ashamed of doing so?
But it turns out that the new system is significantly worse than the old one, for little to no practical benefit. That's why people are comparing and complaining.
There's not anything wrong with having a central monetary authority. There's not anything wrong with having institutional trust.
The fundamental problems of inequality don't stem from Treasury, but rather from the game theory concept of the https://en.wikipedia.org/wiki/Gambler%27s_ruin making barriers to entry for new players always higher than the incumbents. You can take this all the way down to the bottom, in the example of having no car to be a delivery driver, and to get a loan for a car is a tremendous risk.
It's an open question as if it actually does serve a purpose, though.