Gregory's Server
@tinker I'm also convinced that the sudden explosion of interest in cryptocurrency was at least in part due to extremely wealthy individuals propping it up as a reaction to the tightening regulatory landscape on money laundering and undeclared wealth.
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4 comments
 @tinker @gsuberland too much money sloshing around in too few hands with nowhere to go (ie no "investments" that get insane returns because fuck paying people a living wage, paying taxes, and investing in infrastructure) has caused all kinds of problems. AI mania is just the latest. NFTs, crytpo, but also stock buybacks, vulture capitalists, robber barron wealth inequality, social instability. #taxtherich isn't just right, it's the solution to a lot of problems  @gsuberland @tinker Plus all the energy that crypto uses. They pretty much need a nuclear power plant's worth of output to run -- and gee, it seems #BigEnergy is all to happy to help out! @gsuberland @tinker and it uses a lot of energy that offsets the gains in renewables. Fossil fuel fanatics love this |
@gsuberland - Oh yeah. A lot of "Reddit Bros" were filthy rich wallstreet traders. "Diamond Hands, Apes! Apes together strong!" were just folks scamming retailer investors.