CRYPTO: Climate Change Accelerator, Capitalist Con; a Webinar by SystemChangeNotClimateChange

Dec 14, 2021

Watch here: http://bit.ly/CryptoWebinarSCNCC

Crypto is a new financial technology. It’s phenomenally hard to understand, but it’s still catching on faster than people can catch up to what it is, let along what it’s morphing into.

Its proponents claim that it’s a “democratizing, equalizing” currency that lets even the marginalized among us to participate and enjoy economic security. They promise that it’s a “jobs creator” that can be “environmentally benign” and “climate friendly.”

But these promises are false. As the industry expands, gobbling up abandoned power plants and other facilities in communities around the country, its energy consumption has grown exponentially even as its “value” has fluctuated wildly. It’s a purely speculative “fiat” currency (one that is not backed by anything other than the promise that someone else will accept it as payment), without the kind of government backing that a fiat currency such as, say, the U.S. dollar enjoys. Poor and marginalized communities, as well as small-time investors looking to make a quick profit, stand to the biggest losers, and rich capitalists the biggest winners (if indeed anyone can be called a winner).

Our speakers are Karen Edelstein of FracTracker, Maura Stephens of System Change Not Climate Change, and Yvonne Taylor of Seneca Lake Guardian.

Don’t be fooled by industry spin! Join these three seasoned researchers to learn more about why crypto is neither the democratizing, equalizing currency it was purported to be nor anything but an energy-guzzling climate disruptor.

In the last three minutes are actions you can take to protect your neighborhood and stop this speculative bubble from causing widespread harm.

New Yorkers, especially, Take note! Your state is probably going to lead the way toward a nationwide moratorium. Find out how you can help in New York and everywhere in the last three minutes, when we provide a list of actions you can take to protect your neighborhood and community, and stop this speculative bubble from causing widespread harm.