Cryptocurrency is an abject disaster

Drew DeVault delivers a pointed critique of cryptocurrency, arguing it has caused widespread harm to the software industry. Key grievances include: a surge of crypto-mining abuse on CI platforms (including his own sourcehut) that forced paid-only restrictions, perverse incentives corrupting open source and startup culture, environmental damage from energy-intensive proof-of-work, GPU and hardware shortages, exploitation of struggling economies, and a proliferation of scams and Ponzi schemes. He concludes cryptocurrency has failed as a currency, functions primarily as a speculative vehicle for enriching early holders, and represents one of the worst technological developments of the 21st century.