It seems to me that Crypto has three fatal flaws - environmental destruction, criminal escape from detection, and threats to the financial stability of the world.
Bitcoin already uses more power than Ireland or the state of Oregon. We are in the midst of increasingly catastrophic Climate Change. Forrests and oceans are dying. The expansion of green energy is slow. Crypto energy gobling can grow exponentially. This alone kills crypto to me.
Crypto is loved by drug cartels, money launders, and criminals around the world because there are no banks, no banking regulations, no reporting of suspicious large deposits or transactions to law enforcement. This, too, is enough for me to oppose it.
Recently, a Wall Streeter warned that Crypto is to much like the Credit Default Swaps that were overly complicated and unstable financial instruments that caused the collapse of the housing bubble in 2008, which nearly destroyed the world wide financial system. This is reason enough for me to fear it.
The Greedsters keep finding cons to make fortunes for themselves and risk us all in the process. It never stops.
