Why is crypto a thing, still? There's the paranoid fear that a spooky cabal of technocrats at the Federal Reserve — unaccountable, incomprehensible — might one day make ordinary money go poof!
There's the success of the young bros who minted a fortune convincing other young bros to embrace the thing — luring a generation with dim job prospects anyway to take a shot at getting rich from their bedroom.
Can that be all, though? You might expect some urgency to find a purpose for a technology that consumes more power than Australia, yet hasn't been able to develop a real-world function other than paying for ransom, drugs or child porn.
But once you get past the greater fool theory, you are left with little more than a slogan: It's hi-tech. I'm talking about a problem that goes way beyond crypto: the lack of purpose, the absence of a reason for society to keep churning out more “new, new things,” despite the costs, driven by a narrative contrived in Silicon Valley that features technology, any technology, inevitably powering human progress.Read more on tech.hindustantimes.com