I don't know any working thing using crypto in a way that it acutally make sense and couldn't be already be done easier and similiar safe.
Even in big companies you always see examples which break the technology like creating something on the blockchain which has a connection to the real world.
Try to send some big amount of money internationally and you will see why crypto is the future. With regular banks it takes days, weeks and many times months due to intermediate banks, AML questions, reviews, etc and have very high costs associated for simple transfers of money hardly earned.
With cryptocurrencies it takes seconds or minutes and no questions asked with very low fees
Energy use that doesn't deliver concrete value to the world. Mostly just speculators and gambling, but uses a a couple hundred TWh of electricity worldwide.
Yes yes I know, some applications are lower energy usage but parent comment is asking about the ethics of crypto in general.
> Energy use that doesn't deliver concrete value to the world
How is that any different from fast trading computers producing 'wealth' by juggling inflated derivatives and 'generating' water vapor value from hot air...
> Mostly just speculators and gambling, but uses a a couple hundred TWh of electricity worldwide.
Parent asked about ethics of crypto, the technology, in general. This comment isn't about the technology, but the applications, and doesn't answer their question.
I don't necessarily think we should separate applications from theory, but to be more crisp, I would probably say the facilitation of money laundering and funding of terrorist groups is something unethical.
Would you be shocked to know that US dollars are used more for both money laundering and funding terrorism than cryptocurrencies? Should we outlaw US dollars due to facilitating unethical uses?
> I don't necessarily think we should separate applications from theory
Sure, not in general, but shaism was specifically asking for theory, and you replied to them without actually answering their question. And you still haven't.
> the facilitation of money laundering and funding of terrorist groups
...and this isn't unique to crypto, either, so it's unclear that it's relevant.
Even in big companies you always see examples which break the technology like creating something on the blockchain which has a connection to the real world.