You've made your arguement for "planet destroying", now why is it a "scam"?
You've made your arguement for "planet destroying", now why is it a "scam"?
Of course, the climate crisis is caused in large part by capitalism failing to deal with negative externalities, so one could argue that Bitcoin is just another facet of our corrupt system privatizing benefits and making the public bear the costs. But nevertheless this is a fundamental flaw in arguments that Bitcoin miners only farm where energy is "cheapest".
As for why it's a scam, it's hard to summarize, but I'll try: cryptocurrency is not currency, not decentralized, and not private. https://jacobin.com/2022/01/cryptocurrency-scam-blockchain-b...
Why? Because you said so?
> not decentralized
Bitcoin is quite possibly the most decentralized computer technology ever created. Name something more decentralized.
> not private
I processed around $15k in instant bitcoin transactions this month and have zero insight into who the sender or receiver are