The Crypto Thread

Looks like Matt has become a crypto bro:

I wonder how he squares this with his supposed previous concern about global warming. My guess is he doesn’t because money.

From what videos my friend is sharing who is into crypto, unlike paper currency, crypto mining can be converted to run 100% on renewables, it’s just a question of will and making it happen.

I don’t really want to deal with the whole crypto storage thing, nor do I want to put a lot into. Considering buying into the Vanguard ETF (BTC) though. Anyone doing ETFs for crypto?

2% expense ratio, F that. If you want to speculate in crypto, just buy some. If you don’t care enough to look into how to do that, I would suggest staying away.

Good point. It’s not so much I don’t want to learn, I just don’t want to put the effort into it. I am looking for easy, but at the same time I am getting FOMO.

It’s speculation, not investment. Gambling. You do it with funny money.

Your real money should be in unmanaged index funds with all dividends reinvested.

Most of the newer crypto also don’t use mining at all, it’s called a ‘proof of stake’ consensus mechanism and means that the amount of electricity per transaction is extremely small, rivalling more centralized (traditional) methods of validating transactions.

But yes, like with electric vehicles crypto mining can be run on 100% coal or 100% solar/wind and that would have different implications for the environment. Cost per transaction would still be extremely high with very poor scalability though, so to me it seems better to just kill them off completely and move on to speculating on the newer ones.

And where they overbid for the materials necessary. No one is funding new production just for crypto, although it should be common enough that there’s spare stuff around.

This has been my thought with it. I have put money into BTC and ETH via Robinhood, which allows for fractional purchases etc.

It is all just extra cash to “gamble” with. Not a main source of investment.

https://www.usenix.org/publications/loginonline/web3-fraud

I see you and raise:

https://www.stephendiehl.com/blog/web3-bullshit.html

I expected this to be about codes or weed

Thanks man. I haven’t laughed that hard in a long time!

I’ve watched it like 8 times and it gets funnier each time.

I can’t wait to show it to my gf. She thinks crypto is the work of SATAN!

Well, not really, but she hates it, primarily I think because of all the wasted energy, and then because she doesn’t understand how it works or how it can have value to normal people who aren’t techies. And well, neither do I.

Anyway, I think she’ll get a real kick out of it (or it could just piss her off further…I guess I’ll find out soon).

Please let us know how she reacts. My wife wasn’t sure what to make of it at first but with the “you give your life to it” line she began figuring it out.

A while back, I think I remember watching a series of videos done where someone was explaining crypto to various schoolchildren in like 5 minutes, who all then understood it, and I still didn’t get it.

That delivery is fucking amazing. It took most of the video before I had full faith that she was an (un)paid actress and just knew how to layer on the awkward like a pro.

Ouch:

She also previously did a video on the Gamestop short squeeze thing in much the same way, but it’s not quite as funny. She really knocked it out of the park with this crypto one.