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Sarah Mei
+ Your AuthorsArchive @sarahmei Software engineer & founder of @RailsBridge and @LivableCode. Currently stirring the pot at @SalesforceUX. Black Lives Matter. she/her Apr. 22, 2021 1 min read

Hello!

Bitcoin is not a currency.

Just had to get that off my chest. Please continue with your day.

Bitcoin is a commodity. You buy it hoping someone will buy it for more later. Except there’s no actual value behind the commodity.

Bitcoin is like someone got tired of ordinary multi-level marketing scams and thought “what if the multi-level marketing scam WAS the product”

Like someone said, let’s cut out the middleman, no candles or skin-so-soft in this scam! Just PURE SCAM

Once you think of it as a commodity, all of its behavior starts to make sense.

It’s very much like gold: it’s in limited supply, you literally have to mine it, and for some unfathomable reason (ooh shiny!), people think it’s valuable.

Did you know that in the gold rush in 1850s in California, miners were so eager for gold that they washed entire hillsides down the rivers?

That “mining” activity is why, to this day, the Sacramento River (leading into the San Francisco Bay) is silted up.

It’s an environmental disaster we’re still dealing with almost 200 years later.

Should we create another environmental disaster to extract another meaningless commodity?

More specifically, should we create another environmental disaster so that individuals can get rich at the expense of the rest of us - and our children?


You can follow @sarahmei.



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