Comment on SEC says it will deregulate cryptocurrencies with 'Project Crypto'

overload@sopuli.xyz ⁨1⁩ ⁨month⁩ ago

• UnpopularCrow@lemmy.world ⁨1⁩ ⁨month⁩ ago

  Well the head of the EPA called climate change “a religion” so that ship has sailed for the US.

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  • muusemuuse@sh.itjust.works ⁨1⁩ ⁨month⁩ ago

    Wouldn’t it be funny if it got special protections because it was declared a religion?

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    • UnderpantsWeevil@lemmy.world ⁨1⁩ ⁨month⁩ ago

      Religion [Evil Islamic] not Religion [Glorious Christian]

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    • prole@lemmy.blahaj.zone ⁨1⁩ ⁨month⁩ ago

      Wouldn’t it be funny if conservatives actually gave a shit about being blatant hypocrites?

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      • muusemuuse@sh.itjust.works ⁨1⁩ ⁨month⁩ ago

        Certainly less depressing at least.

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    • rc__buggy@sh.itjust.works ⁨1⁩ ⁨month⁩ ago

      Shit, lets fucking do it. What is J.R. “Bob” Dobbs’ stance on the issue?

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    • GraniteM@lemmy.world ⁨1⁩ ⁨month⁩ ago

      modernproblemsmodernsolutionsmeme.jpg

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  • PattyMcB@lemmy.world ⁨1⁩ ⁨month⁩ ago

    Funny that actual religion is being embraced by all the Republicans

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• UnderpantsWeevil@lemmy.world ⁨1⁩ ⁨month⁩ ago

  You say that now, but wait for the US economy to completely shit itself.

  COVID and the Great Recession were both spectacular for reducing emissions.

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  • timbuck2themoon@sh.itjust.works ⁨1⁩ ⁨month⁩ ago

    I mean, global economy really. Crypto has the potential and already fucked a few banks when it shit itself which could’ve led to awful bank runs.

    If/when it destabilizes the American banking system the entire global economy will follow its lead down, at least a bit.

    Like I don’t think people understand how devastating letting a scam like this into proper finance can be. Finance itself already has way more latitude than it should- wait until this just splits everything wide open.

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    • UnderpantsWeevil@lemmy.world ⁨1⁩ ⁨month⁩ ago

      If/when it destabilizes the American banking system the entire global economy will follow its lead down

      One of the nice things Trump has been doing has been decoupling the US domestic market from the global chain. If we can keep ourselves propped up for another couple of years, the collapse will remain contained to ourselves and our immediate allies. I mean, case in point, Russians and Iranians and N. Koreans and Cubans are so sanctioned to shit that they don’t really care if the dollar takes a tumble.

      Like I don’t think people understand how devastating letting a scam like this into proper finance can be.

      2008 was the hard lesson. Too Big To Fail means the scammers are the only ones who walk away from the mess.

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      • anomnom@sh.itjust.works ⁨1⁩ ⁨month⁩ ago

        Yeah I had arguments with my late brother about this, but 2008 could have been the perfect time to let banks fail or be completely federalized, and directly bail out home dwellers and implement universal basic income at the same time to make the “payment systems and retirement funds will vanish” argument invalid.

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    • I_Has_A_Hat@lemmy.world ⁨1⁩ ⁨month⁩ ago

      For some, that is the point.

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• AmbitiousProcess@piefed.social ⁨1⁩ ⁨month⁩ ago

  To be fair, the SEC has only really gone after cryptocurrencies other than Bitcoin, which is the only major blockchain that uses the energy-intensive Proof-of-Work. The things the SEC was trying to regulate, that it considered securities, are almost entirely running on Proof-of-Stake networks, which have negligible relative energy consumption.

  This will almost certainly have a lot of other negative impacts, but I doubt it will have that much on the climate.

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