Exactly 14 years ago , Satoshi Nakamoto designed the most pathetic / inefficient system ever invented by humankind : the blockchain.
Today, it weights 60 000 tons, wastes constantly 10 gigawatts (more than Belgium or Chile) to process less than 7 transactions per second :
Less than a 33 bps modem from 1990.
This could be a joke if it didn't have such gigantic environmental impact, wasn't enabling billion dollars ransomware industry and was not crushing thousands of lives in the process.
TBH, #Bitcoin only works as a tool for #Oligarchs from the #PRC & #Russia to circumvent #CapitalFlight restrictions and #Sanctions.
If someone pitches you on a "great" Web3 project, ask them if it requires buying or selling crypto to do what they say it does.Sources and Further Readinghtt...
That being said more people have and are still being been #scam|med with classical 419's and shady #Forex crap as well as organized #ShockCalling and #TechSupportScam|s using #GiftCards as means to facilitate #MoneyLaundering...
IMHO #Monero is "the least worst cryptocurrency" but solely by virtue of being impossible to be abused for #NFT|s and other bs.
What is however needed is more #FinancialLiteracy and espechally #TechLiteracy and a healthy truckload of scepticism.
1. NOTHING IS FOR FREE - NOT EVEN BIRTH OR DEATH!
2. If something would allow people to magically make more money, they'd keep it a secret and not share it with stangers.
3. On the Internet, NOBODY IS YOUR FRIEND! Not even the charismatic YouTuber. To them you're only a consumer worth engaging with to make money from - often indirectly.
https://mastodon.online/@FranckLeroy/109627512801712672
Exactly 14 years ago , Satoshi Nakamoto designed the most pathetic / inefficient system ever invented by humankind : the blockchain. Today, it weights 60 000 tons, wastes constantly 10 gigawatts (more than Belgium or Chile) to process less than 7 transactions per second : Less than a 33 bps modem from 1990. This could be a joke if it didn't have such gigantic environmental impact, wasn't enabling billion dollars ransomware industry and was not crushing thousands of lives in the process.
@FranckLeroy Everything else would be kinda supporting scammers...
@FranckLeroy that being said as #TheDAO and the #Ethereum - #Backroll has shown: Major #Stakeholders [aka. the 51%] on a #Blockchain are perfectly able to undo scammy transactions against all ideological claims.
They just purposefully decide not to do so in almost all cases for their own greedy interests, making them less accountable than any [central] bank ever!
@FranckLeroy the #HardFork aka. "#Ethereumclassic" isn't any better, but unlike #VitalikButerin and others I can at least take them serious as they are at consequent in their ideology and refuse to #backroll anything.
Which sadly makes them more honest among greedy assholes and scammy grifters.
https://youtu.be/YQ_xWvX1n9g?t=7219
https://ethereumclassic.org/
Franck Leroy
Kevin Karhan 