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People being able to issue currency is not scammy in the least. It is the purest expression of economic empowerment and free enterprise. It is everything the de
by CryptoPunk 5y ago
People being able to issue currency is not scammy in the least. It is the purest expression of economic empowerment and free enterprise. It is everything the decentralization movement stands for.
- rfd4sgmk8u 5y agoYou gotta admit, the bar is pretty low here. Once you have (BTC) or ETH, why do you even need a token, except to scam suckers on the next big thing. SHIB is a classic example of this. Isn't all financial crime an expression of economic empowerment and free enterprise? Nobody, especially Bitcoiners, likes fraud.
- CryptoPunk 5y agoNo, local/community currencies can provide utility that a high liquidity currency cannot on its own. Look at the Moon token that /r/CryptoCurrency issues to its users, to give them a stake in the subreddit's success. It gives millions a foot into the door of the crypto world. Small currencies are complementary with large ones. Large ones meanwhile can provide competition to each other that ensures the consumer gets the best quality store-of-value/medium-of-exchange/smart-contract-platform/etc available. Generalizing them all as scams is really overly simplistic, and hostile to contract freedom.