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The moral imperative of boycotting cryptocurrencies [1]
['This Content Is Not Subject To Review Daily Kos Staff Prior To Publication.']
Date: 2025-02-15
There are profits to be made as crypto bros infiltrate the federal government.
And the robbery will be epic as well.
And money laundering will swell.
And the computers doing the mining will keep coal fired power plants spewing filth into the air.
The cryptocurrency industry is full of crooks, and they’re just as happy to steal from customers as strangers. The FBI found that, in 2023, crypto-related fraud exploded, with $5.6 billion in losses suffered by Americans.
One of the reasons crypto bros promote cryptocurrency to the general public is not only to rip them off, it's to create an air of legitimacy for a fundamentally criminal enterprise.
Cryptocurrency fuels money laundering, extortion, drug trafficking, child pornography and ransomware attacks against schools, government offices, and hospitals.
Cryptocurrency is also a big corrupter of our political system. Nearly $130 million was spent by crypto bros in the last three elections, which amounts to 15% of all known corporate spending since 2010.
Cryptocurrencies offer anonymous transactions at the cost of having no recourse for fraud. Who would give up security in exchange for anonymity besides a gambler or a crook?
Even if you don't get ripped off in cryptocurrency, and don't mind dealing with criminals, there is another reason to NEVER buy it: the climate. The computers that generate cryptocurrency consume tons of electricity, which means tons of pollution, to do something that regular currency does with a tiny fraction of the electricity.
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