Crypto nonsense continues

Despite the big fall in crypto (look at BTC falling to $18k and ETH to $1k) this week, there is still plenty of nonsense put out by the crypto fans. Today noted CZ of Binance, “Look at fundamentals”.

Ok. Visa and Mastercard process transactions at 1700 TPS (transactions per second). Bitcoin does 5–7 TPS. Its rate has not budged in 4 years. It hit a hard plateau. It cannot scale faster. Visa and Mastercard already have, for years. (ETH numbers are similar — 15 TPS.)

Related to this, BZ said “#crypto is used for global fundraising, investments, x-border…