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When everybody jumps in this thread to tear him apart, please disclose your crypto holdings while you're at it. So many formerly-good people have been corrupte

When everybody jumps in this thread to tear him apart, please disclose your crypto holdings while you're at it. So many formerly-good people have been corrupted by crypto greed.

jimbob45 5y ago
Zero holdings It’s also a scam to launder money, destroy the environment, and gateway the youth into losing their holdings through asset trading. I hope the US follows China’s example and bans it outright.
- neb_b 5y ago
  It also helps citizens in authoritarian regimes transfer money in a way that can't be stopped.
  - JumpCrisscross 5y ago
    > helps citizens in authoritarian regimes transfer money in a way that can't be stopped Who do you think, in authoritarian countries, has most of the money? The poor Venezuelans saving with Bitcoin benefit exists, but let’s call a spade a spade. It’s principally used for graft and sanctions/tax evasion by these countries’ elites.
    - neb_b 5y ago
      > It’s principally used to facilitate graft and sanctions/tax evasion by these countries’ elites. It's quite a leap to say crypto is "principally used" for that. Bitcoin is seeing adoption for remittance payments in the poorest countries in our world. Crypto is also allowing people to donate to activists in countries that deem these people "extremist groups" [0] [0] https://www.reuters.com/world/europe/navalny-ally-urges-donors-use-cryptocurrency-due-crackdown-2021-06-02/ https://www.reuters.com/world/europe/navalny-ally-urges-dono...
      - JumpCrisscross 5y ago
        > quite a leap to say crypto is "principally used" for that Not broadly. But within authoritarian countries, almost certainly yes. You need to have wealth before losing it to becomes a problem. (For an analogy, look up how hard cash is distributed and used in authoritarian regimes. Hint: the poor Venezuelans have a tougher time getting U.S. dollars, too.)
        neb_b 5y ago
        Do you have a source for that?
- Johnyma22 5y ago
  The US Gov holds ~$4Bn in Bitcoin alone. The Chinese Government ~$11Bn. Are they using these funds to undo the damage? That would feel like an obvious option.
deleted 5y ago
[deleted]
sumnole 5y ago
If one truly believed crypto is valuable tech, I would expect them to be holding crypto.
- distances 5y ago
  I disagree. Almost by definition any beneficial aspect of crypto would be something else than speculation, so holding coins doesn't have anything to do with the usefulness of the technology.
- solarkraft 5y ago
  The technology is independent from the economics of one specific blockchain. If you like the blockchain technology you can generally use it without any investment into tokens on any of the popular chain. Unless you want to use it for economic endeavors of course, but even then you don’t really need to permanently hold that much. If you’re holding it because you think other people think the technology will make other people think (…) it’ll eventually be used for real payments increasing its price: That’s speculation.
rualca 5y ago
Why is this message being downvoted, particularly without pointing anything wrong with the point that was made? Edit: and of course this question is being downvoted as well.
- xwdv 5y ago
  I guarantee it is being downvoted by people with significant holdings in crypto. I've upvoted it.

When everybody jumps in this thread to tear him apart, please disclose your crypto holdings while you're at it. So many formerly-good people have been corrupted by crypto greed.

jimbob45 5y ago

Zero holdings It’s also a scam to launder money, destroy the environment, and gateway the youth into losing their holdings through asset trading. I hope the US follows China’s example and bans it outright.

neb_b 5y ago
It also helps citizens in authoritarian regimes transfer money in a way that can't be stopped.
- JumpCrisscross 5y ago
  > helps citizens in authoritarian regimes transfer money in a way that can't be stopped Who do you think, in authoritarian countries, has most of the money? The poor Venezuelans saving with Bitcoin benefit exists, but let’s call a spade a spade. It’s principally used for graft and sanctions/tax evasion by these countries’ elites.
  - neb_b 5y ago
    > It’s principally used to facilitate graft and sanctions/tax evasion by these countries’ elites. It's quite a leap to say crypto is "principally used" for that. Bitcoin is seeing adoption for remittance payments in the poorest countries in our world. Crypto is also allowing people to donate to activists in countries that deem these people "extremist groups" [0] [0] https://www.reuters.com/world/europe/navalny-ally-urges-donors-use-cryptocurrency-due-crackdown-2021-06-02/ https://www.reuters.com/world/europe/navalny-ally-urges-dono...
    - JumpCrisscross 5y ago
      > quite a leap to say crypto is "principally used" for that Not broadly. But within authoritarian countries, almost certainly yes. You need to have wealth before losing it to becomes a problem. (For an analogy, look up how hard cash is distributed and used in authoritarian regimes. Hint: the poor Venezuelans have a tougher time getting U.S. dollars, too.)
      - neb_b 5y ago
        Do you have a source for that?
Johnyma22 5y ago
The US Gov holds ~$4Bn in Bitcoin alone. The Chinese Government ~$11Bn. Are they using these funds to undo the damage? That would feel like an obvious option.

deleted 5y ago

[deleted]

sumnole 5y ago

If one truly believed crypto is valuable tech, I would expect them to be holding crypto.

distances 5y ago
I disagree. Almost by definition any beneficial aspect of crypto would be something else than speculation, so holding coins doesn't have anything to do with the usefulness of the technology.
solarkraft 5y ago
The technology is independent from the economics of one specific blockchain. If you like the blockchain technology you can generally use it without any investment into tokens on any of the popular chain. Unless you want to use it for economic endeavors of course, but even then you don’t really need to permanently hold that much. If you’re holding it because you think other people think the technology will make other people think (…) it’ll eventually be used for real payments increasing its price: That’s speculation.

rualca 5y ago

Why is this message being downvoted, particularly without pointing anything wrong with the point that was made? Edit: and of course this question is being downvoted as well.

xwdv 5y ago
I guarantee it is being downvoted by people with significant holdings in crypto. I've upvoted it.