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With the Crypto Industry War Chest Looming, Senate Democrats Help GOP Pass Crypto Bill
(www.commondreams.org)
this post was submitted on 18 Jun 2025
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politics
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They are inherently bad. By design.
At the very basic level, everybody needs to execute eachothers transactions. This means that if a billion wallets make a single transaction that you end up with 10^18 transactions being calculated. To call it inefficient is the understatement of the year.
This, incidentally, is also the reason why the wallet data file is just ridiculously stupidly enormously big. I've been out of it for years now (minus the bit that I'm using now as an investment) but a real Bitcoin wallet required terabytes of data
All this culminates in Bitcoin using more electricity than a modern country to support a tiny fraction of the world's financial transactions, something you might want to think about with climate change and all.
Oh I don't disagree with your take on it on that front. What crypto is being used for and how it is being used is generally impractical. It does have legitimate uses. But as you said it's generally not the ones that's being used for.
Generally criminal, more like. It's good for money laundering and illicit payments, that's about it.
Citation needed.
I've used it for quite a few legitimate payments. Its fast, easy, not cheap.
But yeah, it does allow for a lot of criminal transactions, as a side effect