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this post was submitted on 22 Jun 2024
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politics
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Of course they did. Scam money for a scam presidential candidate.
I'm never sure how to approach crypto on these platforms, because it's rare to get a nuanced take.
I've moved past bitcoin to ethereum, I think it answers a lot of the criticisms.
I try not to get caught up on whether or not it's a currency, store of value, or most other definitions. I just approach it from, is it a good product?
I'm in the middle on things such as money laundering or criminal activity. On one hand, the ledger system makes it incredibly easy to trace back transactions if someone ever messes up. On the other it serves a similar function as cash except you don't have the physical weight, which is non trivial to transport. I know some criminals have to have used it successfully.
Crypto is hard. There's so many goddamn scams and stuff like NFTs that could be a good idea if they got the weight of enforcement, but there's no real enforcement mechanism. We have silly slips of paper that say whether we own things, I don't think it's a stretch to say we could make them digital with the right implementation. But those silly slips of paper hold the weight of law behind the. NFTs have no one to enforce anything, thus are useless.
I'm always afraid to open this up on this platform because there's so many non nuanced takes, and people writing just the same criticisms. I'm hoping to have a good discussion, and I'm open to other opinions on it. But I haven't found an argument that makes me think Ethereum is a problem or something to avoid. It's certainly risky, but I think that risk is justified to the level of which I hold it.
Everyone gets Bitcoin at the price they deserve. You’ll wake up one day. Our own politicians admitted our monetary system would cause a revolution if the citizens knew how the federal reserve actually worked. They said this in Congress when passing the law, look up the documents.
But yeah, Bitcoin is the scam. Not the one that lawmakers literally said was a scam🤷♂️.
No one needs to be educated on Bitcoin. It’s like 15 years-old, raises electricity bills, enables organized crime, and is too volatile to be a currency. Developers know blockchain is too slow to ever be valuable beyond a few very niche use cases. What else is there to learn?
If anything, Bitcoin fans need to be educated on economic history — maybe start with the free banking era — so they’d know why central banks were created in the first place. But to do that, they’d have to read real textbooks instead of screeds containing dozens of long discredited economic theories. It’s just a modern version of right wing goldbuggism.
15 years is pretty new in terms of assets. Of course it’s going to raise electricity bills, it uses electricity. All currency enables organized crime.
Are you a developer? We can take this to the technical level if so, because I am, and I’ve studied the code and cryptography. I have answers for all of your inquires if you approach this topic with an open mind.
The economic history is the most important part - I agree. Do some research on the history of currency, how it developed, where paper money came from, and how that turned out. Then we can talk some more if you want.
Just out of curiosity, are you old enough to have or remember multiple forms of dead media (digital or analog)?
This, along with nefarious actors (state or otherwise, like Musk with dogecoin even), have kept me skeptical of crypto currencies.
Look at our current set of lawmakers. Many of them are unserious people and you can't take what they say seriously. Which is why we should endeavor to stop electing them.
I agree. I’m just here to educate people on BTC.
Here's a tip for you: you don't educate anyone by saying "you'll wake up one day". That just makes you sound like a tool.
Sure
It's a cult.
LOL
Whataboutism
lol ok. It’s not a scam because it’s decentralized, trustless, and politically invincible. Is that enough for you? Might want to spend more time researching your logical fallacies, because this makes you look like an idiot.
All of the anti crypto people are idiots. They barely understand how fiat works and then expect the world to believe crypto is a scam because "they say so"?.
Do yourself a favor and just block, ignore and move on. You are never going to educate these folks.
You're going to be blocking a lot of people. 75% of Americans who have heard of cryptocurrency are not confident in its safety and reliability. Those are majorly important things for any currency.
https://www.pewresearch.org/short-reads/2023/04/10/majority-of-americans-arent-confident-in-the-safety-and-reliability-of-cryptocurrency/
Cryptocurrency is a scam because no one backs it. There's no guarantee major exchanges won't fold overnight. It's just "trust me bro" with your life savings.
All major currencies have a government backing them. That means they guarantee that you can (must) pay your taxes and any government fees in the local currency.
Which do you think will last longer? The US Government or a "trust me bro" crypto website? It's that simple.
5 hours ago dude
Not surprised by this at all.
Have a nice day now.
Not surprised that someone called out your blatant lies?
Go patronize someone else.
Removed, civility.
Tyvm 🫡 very well said
I needed this thank you
I gave up trying to spread the word that is crypto to the non believers. Just like everything else worth discovering, they have to want to learn.
Exactly. I think I just gave up!
@NautiNolana@lemmy.world
@Rapidcreek@lemmy.world @kescusay@lemmy.world @finley@lemm.ee @rdyoung@lemmy.world
Now this makes me lol. I mined some coin in a lost wallet when the century was single digits. Admitadely it seemed need but I ddi not get it. It creates value by flushing energy down the toilet for no useful work and is programed to reguire more energy for the resource which while fiat currency has little behind it like taxes and militaries. bitcoin has nothing behind it because the energy was already wasted and otherwise its just code. Not even paper. On top of it since its programed as a pyramid scheme investment it does not even work properly as a currency. Gridcoin does because its value is reflected in the work the envergy does and don't get me wrong the distributed ledger has potential that has not really been utilized yet (or is utilized so well im not notcing it). Believers in crypto are just that. Folks that understand it laugh at it. Its funny how you can replace jesus with crypto in tha phrase and it fit perfectly like what a christian might say to an athiest:
"I gave up trying to spread the word that is jesus to the non believers. Just like everything else worth discovering, they have to want to learn."
Wow. You have set a record for amount of dumb shit in one comment.
You sound salty that you missed out. You haven't. BTC, et al isn't a ponzi or a pyramid, it's actually more fair of a system than fiat.
I could give you a list of projects with real teams and communities behind them but I don't think you would appreciate it so I won't.
Have a nice day now.
well that was so specific. you totally sound like a real developer and really you can tell from all the technical developer stuff in your posts and comments for this account.