| | | What is to be applauded? Buying $50 million boats or bettering the world? Or was it something else? A boat is not a zero sum crap. A useless crypto is a zero sum crap. A boat is a beautiful real thing. When Larry Ellison moored his fantastic boat Katana at Auckland wharf during the Y2K Americas Cup racing, I went and admired it from a couple of metres away on the wharf
Some in the crowd were the normal resentful envious nasty types who of course achieved nothing or nearly nothing, or maybe even negative in their own lives. I guess some others were like me, admiring the talents of the swarms of people who knew how to dig holes in the ground and turn the diggings into metals, plastics, paints and thousands of components that go to make up such a beautiful ship as Katana. I also admired the talent of Larry Ellison and his swarms of Oracle people who created so much value for millions of people that Larry could afford to hire people to do such a great thing.
Crypto currencies on the other hand cost a huge amount of electricity for mining, and skilled software makers to produce the block chains and their working among millions and maybe billions of people. The value of crypto currencies is so far pretty much nothing as they are nearly totally based on greater fool pyramid scheme thinking.
I hasten to add that MY Cybermoney which has been under development for decades before bitcoin started filling a blockchain with obsolete data using wastrel energy expenditure will NOT be a greater fool theory product, will not waste energy and will be the opposite of a pyramid scheme in that the more the users the more valuable it will be to both previous and new users. Nobody will be the sucker last ones in. I guess a lot of bitcoin buyers at $60,000 are feeling quite suckered now. Also Ethereum buyers. And dogecoin. And thousands of others. Casper!!
There has been vast wastrelism in just bitcoin mining, vastly more wastrelism than if a fleet of Katanas were built, then taken out to sea and sunk, with all hands on board. Apart from the waste of energy, there's also the loss of money paid by the suckers who paid swarms of other people to operate various exchanges and all sorts. Those people would have been more gainfully employed building superyachts.
Much more wastrel than Katana builders are people who drink gold flecked champagne and pee and poop it away with nothing to show for it but reduced brain function. At least Ethereum and Katana have current real value and it's possible that Ethereum will be the one to rule all money which would be fantastic [but it won't work coz my Cybermoney will be the dinkum oil].
But let's not niggle over trivia when the vast criminal evil wastrelism and horrors of war are being enthusiastically revved up by Biden, Boris, the Barbarossa II Gruppenfuhrers in Germany [I predicted decades ago that they would go again, and here they go],and many bandwagon climbers such as Oz, Aotearoa-Zimbabwe, Sweden, Finland and other Euroserfs across Eurostan.
I despise those who despise the wealthy who learned, worked, saved, invested and created vast benefits for millions and billions of people. I'm happy to see Larry rest on his laurels, tootling around in his luxury ships if that's his inclination.
Mqurice |
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