The Unreasonable Ecological Cost of #CryptoArt (Part

@AFP The Environmental Cost of CryptoArt
https://t.co/e9fn1mkjP0
@AFP Cryptocurrencies and NFTs are an absolute disaster for so many more reasons than the ecological.
https://t.co/l5VQbVjK3z

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The first ever world map was sketched thousands of years ago by Indian saint
тАЬRamanujacharyaтАЭ who simply translated the following verse from Mahabharat and gave the world its real face

In Mahabharat,it is described how 'Maharishi Ved Vyasa' gave away his divine vision to Sanjay


Dhritarashtra's charioteer so that he could describe him the events of the upcoming war.

But, even before questions of war could begin, Dhritarashtra asked him to describe how the world looks like from space.

This is how he described the face of the world:

рд╕реБрджрд░реНрд╢рдирдВ рдкреНрд░рд╡рдХреНрд╖реНрдпрд╛рдорд┐ рджреНрд╡реАрдкрдВ рддреБ┬ардХреБрд░реБрдирдиреНрджрдиред рдкрд░рд┐рдордгреНрдбрд▓реЛ рдорд╣рд╛рд░рд╛рдЬ рджреНрд╡реАрдкреЛрд╜рд╕реМ рдЪрдХреНрд░рд╕рдВрд╕реНрдерд┐рддрдГрее
рдпрдерд╛ рд╣рд┐ рдкреБрд░реБрд╖рдГ рдкрд╢реНрдпреЗрджрд╛рджрд░реНрд╢реЗ рдореБрдЦрдорд╛рддреНрдордирдГред рдПрд╡рдВ рд╕реБрджрд░реНрд╢рдирджреНрд╡реАрдкреЛ рджреГрд╢реНрдпрддреЗ рдЪрдиреНрджреНрд░рдордгреНрдбрд▓реЗрее рджреНрд╡рд┐рд░рдВрд╢реЗ рдкрд┐рдкреНрдкрд▓рд╕реНрддрддреНрд░ рджреНрд╡рд┐рд░рдВрд╢реЗ рдЪ рд╢рд╢реЛ рдорд╣рд╛рдиреНред

тАФрд╡реЗрдж рд╡реНрдпрд╛рд╕, рднреАрд╖реНрдо рдкрд░реНрд╡, рдорд╣рд╛рднрд╛рд░рдд


Meaning:-

рд╣реЗ рдХреБрд░реБрдирдиреНрджрди ! рд╕реБрджрд░реНрд╢рди рдирд╛рдордХ рдпрд╣ рджреНрд╡реАрдк рдЪрдХреНрд░ рдХреА рднрд╛рдБрддрд┐ рдЧреЛрд▓рд╛рдХрд╛рд░ рд╕реНрдерд┐рдд рд╣реИ, рдЬреИрд╕реЗ рдкреБрд░реБрд╖ рджрд░реНрдкрдг рдореЗрдВ рдЕрдкрдирд╛ рдореБрдЦ рджреЗрдЦрддрд╛ рд╣реИ, рдЙрд╕реА рдкреНрд░рдХрд╛рд░ рдпрд╣ рджреНрд╡реАрдк рдЪрдиреНрджреНрд░рдордгреНрдбрд▓ рдореЗрдВ рджрд┐рдЦрд╛рдпреА рджреЗрддрд╛ рд╣реИред рдЗрд╕рдХреЗ рджреЛ рдЕрдВрд╢реЛ рдореЗ рдкреАрдкрд▓ рдФрд░ рджреЛ рдЕрдВрд╢реЛ рдореЗ рд╡рд┐рд╢рд╛рд▓ рд╢рд╢ (рдЦрд░рдЧреЛрд╢) рджрд┐рдЦрд╛рдпреА рджреЗрддрд╛ рд╣реИред


Meaning: "Just like a man sees his face in the mirror, so does the Earth appears in the Universe. In the first part you see leaves of the Peepal Tree, and in the next part you see a Rabbit."

Based on this shloka, Saint Ramanujacharya sketched out the map, but the world laughed
So the cryptocurrency industry has basically two products, one which is relatively benign and doesn't have product market fit, and one which is malignant and does. The industry has a weird superposition of understanding this fact and (strategically?) not understanding it.


The benign product is sovereign programmable money, which is historically a niche interest of folks with a relatively clustered set of beliefs about the state, the literary merit of Snow Crash, and the utility of gold to the modern economy.

This product has narrow appeal and, accordingly, is worth about as much as everything else on a 486 sitting in someone's basement is worth.

The other product is investment scams, which have approximately the best product market fit of anything produced by humans. In no age, in no country, in no city, at no level of sophistication do people consistently say "Actually I would prefer not to get money for nothing."

This product needs the exchanges like they need oxygen, because the value of it is directly tied to having payment rails to move real currency into the ecosystem and some jurisdictional and regulatory legerdemain to stay one step ahead of the banhammer.