5 ms·

> I've said this so many times: But what does it doooooo??? Name one project that isn't "speculation" or "loans" built on cryptocurrency that has seen any uptic

by itake 5y ago

> I've said this so many times: But what does it doooooo??? Name one project that isn't "speculation" or "loans" built on cryptocurrency that has seen any uptick or utility. NFTs sure ain't it. DAOs sure ain't it. Supply chain tracking sure ain't it. In developing nations where the residents do not have access to regulated and "safe" investment vehicles like stock exchanges, where can they invest their saves? Physical bullion that can get stolen or damaged? Cash (and then real estate)?

lmohseni 5y ago
Those are all much better options than a Ponzi scheme/ financial bubble.
- itake 5y ago
  This bubble has been going on for 11 years. When does it cease to be a bubble?
  - nullsmack 5y ago
    Bernie Madoff's ponzi scheme started at least as early as 1991 and he was arrested 17 years later in 2008. So I guess these scams can go on quite a while.
Jasper_ 5y ago
Cryptocurrency does not help with this. Also, I asked people to name a project that isn't speculation or loans.
- cbthrow91 5y ago
  https://cointelegraph.com/news/synthetix-is-already-tokenizing-real-world-markets-through-defi https://cointelegraph.com/news/synthetix-is-already-tokenizi... "The Synthetix (SNX) project, one of the biggest ecosystems in decentralized finance (DeFi), recently launched the Hadar upgrade, which enabled tokenized real-world assets like Brent oil and the Nikkei stock index."
  - gamblor956 5y ago
    The article describes Synthetix as a means for speculating on real-world assets through the trading of tokens representing equity actually held on other exchanges. However, the tokens themselves merely underly the SNX crypto actually being exchanged. IOW, it's just another vessel for speculating which purports to be backed by real financial assets in the same way Tether purports to be backed by cash.
dandanua 5y ago
So, you're proposing that poor nations should invest in this financial pyramid. Great idea!
- itake 5y ago
  If people find value in baseball cards, I don't see what is wrong with allowing poor nations to grow their wealth with crypto.

by itake 5y ago

lmohseni 5y ago

Those are all much better options than a Ponzi scheme/ financial bubble.

itake 5y ago
This bubble has been going on for 11 years. When does it cease to be a bubble?
- nullsmack 5y ago
  Bernie Madoff's ponzi scheme started at least as early as 1991 and he was arrested 17 years later in 2008. So I guess these scams can go on quite a while.

Jasper_ 5y ago

Cryptocurrency does not help with this. Also, I asked people to name a project that isn't speculation or loans.

cbthrow91 5y ago
https://cointelegraph.com/news/synthetix-is-already-tokenizing-real-world-markets-through-defi https://cointelegraph.com/news/synthetix-is-already-tokenizi... "The Synthetix (SNX) project, one of the biggest ecosystems in decentralized finance (DeFi), recently launched the Hadar upgrade, which enabled tokenized real-world assets like Brent oil and the Nikkei stock index."
- gamblor956 5y ago
  The article describes Synthetix as a means for speculating on real-world assets through the trading of tokens representing equity actually held on other exchanges. However, the tokens themselves merely underly the SNX crypto actually being exchanged. IOW, it's just another vessel for speculating which purports to be backed by real financial assets in the same way Tether purports to be backed by cash.

dandanua 5y ago

So, you're proposing that poor nations should invest in this financial pyramid. Great idea!

itake 5y ago
If people find value in baseball cards, I don't see what is wrong with allowing poor nations to grow their wealth with crypto.