this post was submitted on 09 Mar 2024
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Stocks are not bad for the environment the way crypto is bad for the environment. I’m not defending companies or the ethics of stock trading, but generating stocks doesn’t consume massive amounts of electricity. That’s like blaming money itself for environmental damage that spending it could theoretically cause.
There are so many legitimate arguments against publicly traded companies and capitalism in general, but this one just isn’t it.
Crypto isn’t traded via electricity burning computers? That’s news to me. I guess after coins are done burning electricity being minted people just trade them on paper.
Seriously though, all the examples you can think of apply equally to crypto, stocks and fiat currency. The only outlier is crypto, which wastes massive amounts of electricity to generate that it doesn’t need to.
But you knew all that already, you’re just arguing in bad faith so you can “be right”.