Let's look at what cryptocurrency really is, the fundamental concept, in simple terms.Ī cryptocurrency, put simply, is a currency that is not controlled by an appointed organization like a central bank. That's not because you're not smart enough that's because such articles are intentionally written to be confusing and complex, to create the impression of cryptocurrency being some revolutionary technology that you must invest in, while trying to obscure that it's all just smoke and mirrors and there's really not much to it. They usually heavily use jargon and vague terms, make vague promises, and generally give you a sense that there must be something there, but you always come away from them more confused than you were before. There are plenty of intricate and complex articles trying to convince you that cryptocurrencies are the future. They're wrong, and are quite possibly trying to scam you. Whenever the topic of Bitcoin's energy usage comes up, there's always a flood of hastily-constructed comments by people claiming that their favourite cryptocurrency isn't like Bitcoin, that their favourite cryptocurrency is energy-efficient and scalable and whatnot.
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