[kwlug-disc] Peak crypto?

[Khalid Baheyeldin]

Bitcoin mining has gone too far.
It was a fun experiment, and I did not mind it initially.
But now, it is harmful on many fronts.
It is a vehicle for money laundering, as well as enabling ransomware.
And its power consumption is definitely harmful to the planet.
Not to mention Tulipmania, the South Sea bubble, and such ...

Here is a made in Canada fraud enabled by the nature of Bitcoin
https://www.cbc.ca/documentaries/dead-man-s-switch-a-crypto-mystery-1.6293016

A friend of mine got into it early (many years), buying into the hype of
"being in control" and such. I didn't make much of it then.
However, over the past year, he started to believe bizzare things about
bitcoin, the US dollars, and such.

These are spelled out in this video he sent me.
See how many fallacies and misleading/unsubstantiated claims you can spot.
https://www.youtube.com/watch?v=b-7dMVcVWgc

When I warned him, he pushed back that the demise of Bitcoin has been
predicted many times, and that it is banks and governments who are
against it, and so on and on ...

All the hallmarks of being in a cult ...
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