Cryptocurrency Will Ruin Everything: Hard Disk Edition

Bitcoin rival Chia ‘destroyed’ hard disc supply chains, says its boss

Matthew Sparkes, New Scientist:

Chia, a cryptocurrency intended to be a “green” alternative to bitcoin has instead caused a global shortage of hard discs. Gene Hoffman, the president of Chia Network, the company behind the currency, admits that “we’ve kind of destroyed the short-term supply chain”, but he denies it will become an environmental drain.

Translation: “It’s great, apart from all these problems, which we’ve decided aren’t our problems.”

The only thing ‘green’ about any cryptocurrency is how much money the punters will lose when the bubble bursts, and conversely how much those boosting said cryptocurrencies will pocket. The whole thing is not only a con, but a con that will wreck the planet in order to make a few folks even richer.