NYGBC: Crypto, Just Say No!

This week, on Kevin’s ADHD roller coaster topical tour, we take a trip to cryptocurrency mountain, where the water tastes like Lambos and the grift flows like wine. That’s right, cryptocurrency is a ponzi scheme, but somehow more environmentally destructive than Bernie Madoff even tried to be.

Thanks as always for listening and enjoy the show!

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Show Links:

Line Goes Up: https://www.youtube.com/watch?v=YQ_xWvX1n9g&t=1s

Bitcoin transaction fees: https://ycharts.com/indicators/bitcoin_average_confirmation_time 

Nicholas Weaver explains why crypto is a scam: https://www.vox.com/conversations/2018/4/11/17206018/bitcoin-blockchain-cryptocurrency-weaver 

SPLC tracked donations to Alex Jones and white supremacist groups: o   https://www.splcenter.org/hatewatch/2022/04/29/updated-anonymous-donor-drops-2-million-bitcoin-alex-jones

EIA In Depth Analysis on Crypto energy usage: https://www.eia.gov/todayinenergy/detail.php?id=61364

Coindesk reports the cost to mint bitcoin: https://www.coindesk.com/markets/2024/05/16/bitcoin-mining-cost-estimate-drops-to-45k-as-inefficient-miners-exit-jpmorgan/

The Real World Costs of the Digital Race for Bitcoin: https://www.nytimes.com/2023/04/09/business/bitcoin-mining-electricity-pollution.html

Bitcoin magazine on crypto electricity usage vs global banking system: https://www.nasdaq.com/articles/research:-bitcoin-consumes-less-than-half-the-energy-of-the-banking-or-gold-industries

Digiconomist on the real cost of bitcoin: https://digiconomist.net/bitcoin-energy-consumption

Bitcoin transaction fees hit record highs: https://www.coindesk.com/tech/2024/04/21/bitcoin-miners-reap-windfall-as-runes-debut-sends-transaction-fees-to-record-highs/#:~:text=Bitcoin%20transaction%20fees%20averaged%20a,based%20on%20coordinated%20universal%20time. 

Bitcoin transaction fees hit 2020 lows: https://cointelegraph.com/news/bitcoin-transaction-fees-lowest-2020

Financial Times explains why bitcoin is worse than a Madoff style Ponzi Scheme: https://www.ft.com/content/83a14261-598d-4601-87fc-5dde528b33d0