[kwlug-disc] Peak crypto?

[Khalid Baheyeldin]

On Wed, Jan 19, 2022 at 4:09 PM Chris Frey <cdfrey at foursquare.net> wrote:

> On Wed, Jan 19, 2022 at 02:55:33PM -0500, Khalid Baheyeldin wrote:
> > 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
>
> Interesting video.  I haven't been following Bitcoin that closely
> to spot the mistakes you may have found, but if true, the part about
> harnessing the flared methane waste gas was pretty cool, and a
> market force I would not have foreseen.
>

And that is just one example of how they whitewash Bitcoin by deflecting to
these attempts, while actual Bitcoin power use is exactly what the country
or district they are in uses, and nothing more.

Here is a coal plant that is just for Bitcoin, running on natural gas
https://www.youtube.com/watch?v=UFrFsAAzRYg

Just like greenwashing by corporations ...

And here are a couple of videos about Bitcoin's "energy use is benign" meme

https://www.youtube.com/watch?v=eq96L30SK6I

https://www.youtube.com/watch?v=lNGwQhXfB88

Back to the propaganda video I linked to: the really horrible parts are :

- They jumped from historical coinage to the gold standard and the US
abandoning it

- They equate physical labour for mined ores with artificial computational
barriers
(so called proof of "work", and they just equated made up computations with
"work")

- They pose an ethical vs. non-ethical false dilemma of the dollar vs.
Bitcoin

(There may be more, having watched that video months ago)
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