Stefan Thomas lost the paper where he wrote down the password for his IronKey, which contains the private keys to a digital wallet that holds 7,002 bitcoins.

lmao I hope he gets desperate the next time bitcoin spikes & pays some cryptology firm to 'crack' it and they wipe it by accident.

  • snackage [he/him]
    ·
    4 years ago

    No it's not. Bitcoin is wasteful because it works by having millions of computers guessing numbers until one gets it right. This has nothing to do with capitalism.

    • Ho_Chi_Chungus [she/her]
      ·
      4 years ago

      It's because of capitalism that people are running millions of computers trying to guess a number

      • AuthorityIsBad [any]
        ·
        4 years ago

        I don't think you can blame this one on capitalism as much as the concept of money itself

      • snackage [he/him]
        ·
        4 years ago

        That's one way to look at it I guess.ninsinr know if it's very helpful in this particular instance but it's correct

        • Liberalism [he/him,they/them]
          ·
          4 years ago

          I just mean it's one of many perverse incentives created by capitalism, wasn't trying to excuse it in any way.

          • volkvulture [none/use name]
            ·
            4 years ago

            BitCoin is perverse in many ways

            knowing that Silicon Valley & "early morning grinders" have all gone fully in on obsessing over it should raise more suspicions than it quells