January 22, 2022: Waste of Energy 🔋🤡
A Declining Power Flogs Crypto Energy Consumption
We don’t particularly believe yesterday’s market dump is much to read into except for a reaction to macro-economic trends. It doesn’t seem a coincidence that when the money printer sputters out of ink and the general economy is circling the toilet bowl, there’s less overall value to slosh around cryptocurrency.
In other words, you may want to ignore the clown circus that is Washington DC, but they certainly won’t ignore your bags.
Fortunately we’re keeping on top of all the boring trends so you don’t have to. Yesterday Washington DC counterprogrammed a hearing entitled “Cleaning Up Cryptocurrency: The Energy Impacts of Blockchains,” but lost badly in the ratings to Vitalik on UpOnly.
Plus the Fed releases its stablecoin report. We cover everything in today’s subscribers only newsletter.
We know you’re all too poor to afford a paid subscription today, so we’re giving you all a McDonalds discount today (tho any prior subscribers already got grandfathered in to the best deal).
All subscriptions go to support building PAC DAO on-chain crypto activism, which commissioned an artist to render each committee member among other things.
