Download Cryptomania

There remains a very big issue that makes decentralised ledger cryptocurrencies problematic, that is just how energy inefficient this technology can be. The global energy that bitcoin mining consumes in a given year is greater than annual energy consumption of Argentina. There is still room for improvements in this cryptomania.

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Global demand for cryptocurrencies is on the rise and a new wave of cryptomania has been triggered by major institutional investors joining the market such as Grayscale, JPMorgan and Goldman Sachs. As a result of this renewed interest, additional pressure is now being added to the supply of global semiconductors.

Since the winter of 2021, it had been all cryptomania all the time. No one wanted to talk about politics anymore. No one wanted to talk about COVID. And no one wanted to talk about each other. We crawled out of quarantine sallow, shaggy, anxious, with new beer bellies. We needed the soft pitter patter of water cooler talk. Movies and albums for the industry types. Exhibitions and events for the art world set. But the last year and a half had been a cultural embarrassment. Crypto filled that void.

So I struggled for a year to write a culture story\u2014unable to shake the overwhelming sense that there was no there there. I think back to late night Uber rides in Paris, passing the Louvre, pondering how the old stone buildings unlit fold into the night sky, shadows in shadows\u2026 No one was talking about NFTs. It should\u2019ve been a sign. But unfortunately, like everyone at the height of cryptomania, I was high. 2351a5e196