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> Fine. However, there's a general anti-crypto stance here largely based on outdated mainstream narratives that if you truly would be literate about crypto, cou

> Fine. However, there's a general anti-crypto stance here largely based on outdated mainstream narratives that if you truly would be literate about crypto, could only laugh at. Can you be specific about the narratives you're seeing on here that you are laughing at?

fleddr 5y ago
Sure. "Crypto is only used by criminals". Complete non-sense, cash is used far more often for illicit activities. In fact, blockchain forensics is developing so fast that crypto increasingly is very unattractive. Not only may they find you, your coins may become "tainted", and rejected by exchanges. "Crypto is a scam". Inaccurate. Out of the 10,000 or so coins, most are scams. Yet there's at least two dozen or so serious long term projects, and these matter, as judged by their market cap. "It's a pyramid scheme or ponzi fraud". No, in particular for the serious projects (Bitcoin, Ether), it does not meet this comparison at all. There is no single beneficiary doing a rug pull. "Crypto boils the oceans". It doesn't. If you see it as an industry, it's greener than most other industries. And particular as we speak, almost all dirty mining (coal-based) is rapidly moving to renewables as miners are leaving China. And not just that, there's a mining council stimulating in particular stranded energy. "It's worth zero". Well, I can't predict market prices, but the point here is that people have no idea about Bitcoin adaption. It grows by millions of users per week, faster than the rise of the internet and Facebook. Also, institutional investors are in, there's ETFs, the first nation accepting it as legal tender, the list goes on. It will face many more obstacles but the point is that this is no longer some weird internet cult, it's mainstream. "Political rejection" Here I'm hinting at mostly liberals rejecting crypto based on political motives. Yet they quite literally fail to see the other side of the coin. Where Bitcoin besides being speculative, also has tremendous humanitarian value. It can help the poor unbanked to store/grow value. It can help people in inflationary regimes protect their property. It allows immigrants to cross borders without seizure. It allows immigrant arrivals to send back money to their homeland, without the middle man taking 35%. And perhaps closer to our first world, crypto may be the young's generation only chance to grow some wealth, as they are locked out of everything else. I know, the above list make me sound like a proponent. I'm not, I'm confused, puzzled. And I embrace that. Because this entire thing is just too complex to slap a single label on.

fleddr 5y ago

Sure. "Crypto is only used by criminals". Complete non-sense, cash is used far more often for illicit activities. In fact, blockchain forensics is developing so fast that crypto increasingly is very unattractive. Not only may they find you, your coins may become "tainted", and rejected by exchanges. "Crypto is a scam". Inaccurate. Out of the 10,000 or so coins, most are scams. Yet there's at least two dozen or so serious long term projects, and these matter, as judged by their market cap. "It's a pyramid scheme or ponzi fraud". No, in particular for the serious projects (Bitcoin, Ether), it does not meet this comparison at all. There is no single beneficiary doing a rug pull. "Crypto boils the oceans". It doesn't. If you see it as an industry, it's greener than most other industries. And particular as we speak, almost all dirty mining (coal-based) is rapidly moving to renewables as miners are leaving China. And not just that, there's a mining council stimulating in particular stranded energy. "It's worth zero". Well, I can't predict market prices, but the point here is that people have no idea about Bitcoin adaption. It grows by millions of users per week, faster than the rise of the internet and Facebook. Also, institutional investors are in, there's ETFs, the first nation accepting it as legal tender, the list goes on. It will face many more obstacles but the point is that this is no longer some weird internet cult, it's mainstream. "Political rejection" Here I'm hinting at mostly liberals rejecting crypto based on political motives. Yet they quite literally fail to see the other side of the coin. Where Bitcoin besides being speculative, also has tremendous humanitarian value. It can help the poor unbanked to store/grow value. It can help people in inflationary regimes protect their property. It allows immigrants to cross borders without seizure. It allows immigrant arrivals to send back money to their homeland, without the middle man taking 35%. And perhaps closer to our first world, crypto may be the young's generation only chance to grow some wealth, as they are locked out of everything else. I know, the above list make me sound like a proponent. I'm not, I'm confused, puzzled. And I embrace that. Because this entire thing is just too complex to slap a single label on.