Reminder: crypto isn’t solarpunk. It’s cyberpunk.

https://slrpnk.net/post/8460467

Reminder: crypto isn’t solarpunk. It’s cyberpunk. - SLRPNK

Listening to a recent episode of the Solarpunk Presents podcast reminded me the importance of consistently calling out cryptocurrency as a wasteful scam. The podcast hosts fail to do that, and because bad actors will continue to try to push crypto, we must condemn it with equal persistence. Solarpunks must be skeptical of anyone saying it’s important to buy something, like a Tesla, or buy in, with cryptocurrency. Capitalists want nothing more than to co-opt radical movements, neutralizing them, to sell products. People shilling crypto will tell you it decentralizes power. So that’s a lie [https://youtu.be/imZu4sY0kr0?si=ejIywdD20HNbdaIR&t=894], but solarpunks who believe it may be fooled into investing in this Ponzi scheme that burns more energy than some countries. Crypto will centralize power in billionaires, increasing their wealth and decreasing their accountability. That’s why Space Karen Elon Musk pushes crypto. The freer the market, the faster it devolves to monopoly. Rather than decentralizing anything, crypto would steer us toward a Bladerunner dystopia with its all-powerful Tyrell corporation. Promoting crypto on a solarpunk podcast would be unforgivable. That’s not quite what happens on S5E1 “Let’s Talk Tech [https://podcasts.apple.com/us/podcast/solarpunk-presents/id1665735949?i=1000651074959].” The hosts seem to understand crypto has no part in a solarpunk future or its prefigurative present. But they don’t come out and say that, adopting a tone of impartiality. At best, I would call this disingenuous. And it reeks of the both-sides-ism that corporate media used to paralyze climate action discourse for decades. Crypto is not “appropriate tech,” and discussing it without any clarity is inappropriate.

I just wish people who complained about it would spend at least 5 seconds trying to think about an alternative way to achieve p2p electronic cash transactions that lacks the problems they see in cryptocurrency. But nobody ever does. At the very least, don’t try to convince me that the problems that cryptocurrency purports to try and solve aren’t real problems.
So I’m not sure I see how crypto is preferable to the non-crypto banking system? I don’t support either of them but if you can show that it’s better, then maybe it has some uses temporarily until we find a better solution.

It only works better on a global scale and only for certain cases. And if you ignore problems present in the current banking system.

My examples would be:

people traveling (or refugees fleeing) across multiple countries would benefit from some kind of cryptocurrency in that their assets would be easier to access globally. No having to convert their money as they cross borders or dealing with banks and credit.

People living in places with unstable government and financial institutions would maybe benefit from having access to a decentralized global system to store some of their money in a system their government doesn’t have a hand in or control over

Cryptocurrency is still a new technology and idea. Centralized banking has existed for thousands of years.

Capitalists did what capitalists do and tried to prematurely scam and squeeze as much money out of the idea as possible. Potentially forever ruining the image and possible impact the tech may have had.

Im pretty salty over what happened with NFTs. There were a lot of exciting things it could have been applied to. But no. It turned into money laundering with ai generated images.

These examples are wishful thinking based on some anecdotes at best.

Crypto-currencies are a multi-billion dollar business largely run by the worst people from the existing banking and investment sector and people are surprised that it is predominantly used for bad stuff?

It’s not only an image problem and a few bad apples that spoil the rest, the technology itself is structurally predisposed for these kind scams and acts like a magnet for people with bad intentions, because they know this technology shifts the playing field in their favour.

Always a recommended read on this topic: drewdevault.com/…/Cryptocurrency-is-a-disaster.ht…

Cryptocurrency is an abject disaster

…did you respond to the wrong comment? Cryptocurrency is available from wherever you are - that’s more of a core feature than wishful thinking.

Cryptocurrency is available from wherever you are

As long as both parties have trusted devices, power and an internet connection.
With a bank card only one the recipient needs that and with cash nobody does.