I don’t think crypto has ever been a viable payment system for use on the scale of Interac, Visa or MasterCard. Slow and wasteful.
Crypto was never destined for anything but a buzz word
I’ve been interested in GNU Taler for anonymous online payments, but it has some problems, namely the documentation is a bit dodgy.
If some dumb fucks can use a system to get rich quick off of other dumb fucks, it can never be a viable payment system.
I’m not really into crypto at all, but this could be said about regular cash as well to an extent
You know, the bandwidth used here could have been used to serve a meme or neat infographic.
Crypto uses too much electricity to be worth using. It’s an environmental disaster even on the scale of just being used by libertarian techbros. If all society was using it, it would be so bad.
Bitcoin deliberately wastes electricity to preserve its economy. Bitcoin transactions could use a tiny fraction of the electricity, but the thing is, transactions can only be codified as long as people have an incentive to mine, because mining and transaction history are linked. And since so many people are mining, the system automatically increases the difficulty of the computations required to stop a flood of cash into the market. So the network identities and then repeatedly throws out perfectly good mathematical solutions to the transaction record in order to slow down bitcoin creation, and all of that costs electricity.
