Just Another Reason To Ignore Crypto-Currency/Bitcoin

"Bitcoin mining caused climate damages amounting to $12 billion during 2016-2021, a new study estimated. Carbon dioxide equivalent emissions from electricity production for Bitcoin mining rose 126 times to 113 tonnes in that period, according to the paper published in the Scientific Reports. In 2021, the total global damages of all coins mined exceed $3.7 billion. Mining Bitcoin is comparable to making energy-intensive products such as beef, natural gas, and crude oil, the research showed."

Click on the link below for more:

Bitcoin mining unsustainable

Another Negative Regarding Cryptocurrency

"Many people of color believe that cryptocurrency is going free them from financial slavery. But I'm not sure it's the next underground railroad."

Anyone who follows my posts knows of my general skepticism of Bitcoin/Cryptocurrency. In addition to what I have previously said, there is a particularly negative impact on the low-income and racial minority communities. Click on the link below for details:

Cryptocurrency is not the financial promised land

What Is Money?

As humans evolved and began trading items with each other to complement what they could obtain and produce alone, the barter system was born. This evolved into the development of other items representing wealth that could be held and traded, with gold and silver becoming a major means of such. Gold and silver remained a predominant universal material to hold and trade regarding material wealth until around the 18th century.  Money continued to evolve with the printing of paper and minting of coins to represent gold and silver. In the USA, President Franklin D. Roosevelt in 1933 confiscated private gold and suspended the gold standard to allow the printing of money to fight the effects of the Great Depression. In 1971 under President Richard M Nixon, paper money became free from backing by gold (fiat money). Essentially, all paper money in the world today is this fiat money. 

Is this present system of money/currency good or bad. Since economics is one discipline in which honest people can disagree, there is much discussion of the matter. Click on the links below for a wide perspective on the subject:

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Get Rid Of The Penny

"Pennies are not only a nuisance (stores hate them), but they are also an environmentally harmful nuisance."

Just say no to pennies!