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QuintoBlanco t1_ixp0yax wrote

Reply to comment by timmerwb in Reuters: Global regulators to target crypto platforms after FTX crash by Globalist2

People care because it affects everyone, not just people who love crypto.

Things were fine when people were mining with their personal risk. But now crypto creates financial instability and it uses too much energy.

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timmerwb t1_ixq54lq wrote

I see OP cannot be bothered to answer - that is the level of interest of these moronic down voters. It's not 2008 btw. I don't know a single person "affected" by this - and that includes me, someone with huge cryptocurrency exposure since 2016. And FYI, Ethereum doesn't use proof of work mining. Again, you are clearly someone who knows little about the subject but yet feels the need to comment mindlessly on it. Please stop spreading FUD.

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QuintoBlanco t1_ixqth8e wrote

Your sphere of knowledge isn't reality.

Bankruptcies affect creditors. People who financially rely on those creditors are also going to be affected.

The use of energy to create a virtual currency also affects others. Energy is not a infinite resource. Generating energy pollutes the environment.

Mining farms affect the neighborhoods they are in.

They can create noise and the power requirements might mean that power companies need to break up the street to install extra cables.

Mining farms also put a strain on the availability of microchips. Each boom in mining has created shortages in the microchip market.

Also, you either replied to the wrong post or you simply don't know how to read. I never mentioned proof of work mining.

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timmerwb t1_ixqv8f1 wrote

Mining farms employ proof of work. Services like YouTube and Amazon use more energy than Ethereum (proof of stake). But, as I said, you’re clearly not interested in reality.

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QuintoBlanco t1_ixqxt0j wrote

Are you suggesting that I think Amazon is a great thing?

I didn't mention a last argument. My main problem with crypto is that so many people who like crypto are sad cunts who get upset and start to cry when somebody disagrees with them.

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