What are your thoughts about cryptocurrency?

https://en.wikipedia.org/w/index.php?title=Cryptocurrency&oldid=1383211326

Cryptocurrency is well named. Cryptocurrency means that you can’t trace aspects of it; it has hidden flow patterns. Cryptocurrency is the result of masses of computers trying to guess a block of code which they get to stamp with a hashtag. Once aligned in a block chain, the entity lives in holographic form. Kind of like an elevated version of Knight Templar’s’ Bank. Crypto makes currency untraceable by a third party- which is a particular attraction to those who invest in it.

Crypto’s path is contorted and convoluted. Because it exists in the cloud- and not immediately on the ground, it’s basically a house of cards. I’d guess it’s vulnerable to AI interference and hacking.

Crypto is hidden and essentially unregulated. It’s most often used to store money-laundered assets from drug, arms, exotic flora/fauna/and hu(e)- man trafficking. Digital currency in general is a way for billionaires to hide a lot of money so they don’t have to pay their taxes.

I know “ordinary “ citizens have also invested- but they’re mostly to create a seemingly credible basis. For the rest of us, crypto’s an ultimate flim-flam operation.

I’m not sure if crypto’s backed by any real currency or standard like gold, which, of course isn’t really real anymore either, but at least ‘regular’ currency tends to reflect the flow of actual goods and tangible services, while bitcoin is more used by wealthy venture capitalists to buy out businesses, invest in obscure ventures, and otherwise for hoarding. I could of course be wrong….

But I don’t really care, I’m not going there.

My physical 3D banks are enough- and they’re FDIC-insured. This is a huge plus – for me as a retired hag on fixed income. And sadly, as hard as I may have worked in this lifetime, I don’t have any millions or billions.

As it turns out, crypto’s a very energy intensive operation the way its currency is generated, though more technically it’s called mining. I’ve forgotten why but the Wiki article does explain it.

Whether or not it’s liquid I don’t know-that is, if you can readily use it to buy a car or house, let alone groceries. Or if first there’s a waiting period before you can withdraw possibly obscene amounts (which millionaires and billionaires have at their disposal in order to fund their pastimes and play-times).

Crypto has certainly given rise to a great need for data centers. These we all know, have a heavy environmental impact. Whether you want to measure it by electricity consumption, water use, or or noise generation, the results are the same – crypto is offensive and unsustainable. Nor is it necessary.

And don’t forget all the physical mining it takes to build just one of them! Not just sand in its cement foundations and steel for the hard drives, imagine all those motherboards laced with heavy metals- and put together with small hands!.

Bitcoin, etc. really benefits a very small percentage of the population. Primarily those who’ve exhausted the 3D banking system – that is, their deposits are in excess of several hundred thousand dollars beyond which FDIC does not insure. That group in particular leaves quite a large crypto – and environmental footprint by all the toys and influence they’ve bought.

Ordinary people have been enticed to invest in it- usually swayed by large buxom blondes with Mar-a-Lago lips while their spouse sits livid; I’d guess their contributions are probably a relatively small percentage.

So personally, I’m not a fan of it.

The idea really just curdles my stomach honestly, and now that we have the eminent prospect of some part of United States’ physical destruction- if you believe Trump’s White House rhetoric, especially pertaining to U.S. western seaboard- in retaliation for him throwing his nukes at Iran, because bitcoin is holographic, significant physical damage to their assets will likely be limited.

As a holographic entity – once formed, their assets are by and large protected-they can be recalled from anywhere in the instance one of their data centers goes down because it’s part of a holographic whole which is represented everywhere at once.

But it’s also true, that unless you have the exact log-on credentials, your crypto’s locked away from you. Forever.

So better have back up if your house could possibly burn down and you lose your 20 digit keycode locker number. With crypto there’s no physical key – like a bank’s security deposit box, you need your numbers.

While they’re being ‘mined’, after which they’re enshrined so our crypto investor can later use his balance to purchase and pay, crypto and Bitcoin engage a lot of computer players albeit briefly. They call this peer-to-peer transactions.

At least those peers who aren’t already straining electricity and cooling to work on another investor’s bid which go on simultaneously.

However the algorithm works, which at one time I felt I understood from reading some articles in the New York Times magazine, but since forgotten, digital currency has real limitations.

The way I see it, if you’re investing in Bitcoin or other digital currencies, you’re directly responsible for degrading the environment – and technically it’s unnecessary.

These are my “thoughts”; they may or may not be informed.