Why This Computer Scientist Says All Cryptocurrency Should “Die in a Fire”
www.currentaffairs.org
UC-Berkeley’s Nicholas Weaver has been studying cryptocurrency for years. He thinks it’s a terrible idea that will end in disaster.
  • sun_is_ra@sh.itjust.worksEnglish
    62·
    13 days ago

    The article is so long I couldn’t finish it all but here is the main highlights I got:

    1. Crypto remove the need for a intermediate entity which is beneficial to drug sellers (his words not mine)
    2. Crypto waste a lot of energy to do transaction validation ( I agree but he completely skipped/ignore proof of stake crypto currencies)
    3. Lot of scams took advantage of crypt (I agree)
    4. some financial institution made use of crypto to bypass laws that protect customers from frauds (sure but that just means laws should be updated to cover crypto not “burn” it).

    I think crypto has issues that need fixing but I also think the article is very biased and attempting to make it look like crypto is strictly for criminals and drug dealers and scammers with otherwise no advantage.