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It's just an alternative currency. It's the same as exchanging your USD for a foreign currency that has high volatility. Foreign exchange trading doesn't have t
by Flankk 4y ago
It's just an alternative currency. It's the same as exchanging your USD for a foreign currency that has high volatility. Foreign exchange trading doesn't have the hype bitcoin does but it's the same thing. Eventually, bitcoin may prove to be a less inflationary currency so people may enjoy the small annual gains. Until then investing in bitcoin is essentially gambling. Believe it or not, the most successful investor in the world knows what he's talking about here.
- c0mptonFP 4y agoWarren Buffet very likely doesn't understand the technology behind DeFi or decentralized governance. He's also heavily invested in the legacy financial system. So he'd be the last person I'd trust with advice on cryptocurrencies lol.
- NicoJuicy 4y agoI'm not going to believe someone that says the "legacy financial system", seems to me you are too interested in the other one.
- c0mptonFP 4y agoAs long as you are consistent in your decision making, I have no problem with that outcome. I'd rather have it that people are by default skeptical and do their own research. Crypto will win by default because of its merit.
- alexb_ 4y agoWhat practical advantage gives it that merit? What function, within the bounds of legality, does it actually do better than centralized systems?
- c0mptonFP 4y agoWhat does "practical advantage" mean? Crypto is a fundamental societal shift. It's not a convenience app like Uber or PayPal, it's a redesigned version of our global financial ecosystem. It puts control into the hands of people, can help prevent corruption, and gets rid of bloated banks that are a drain on our society.
- alexb_ 4y ago>It puts control into the hands of people, can help prevent corruption, and gets rid of bloated banks that are a drain on our society. And how, exactly, is this practically better? Nobody gives a shit about ideologies.
- c0mptonFP 4y agoThat's probably the dumbest statement I've read on HN, by far. You're just projecting your apathy. You telling me people don't care about democracy? Or privacy? Or the environment? Wait until your country gets hit with hyperinflation, or you live in a dictatorship and your entire livelihood is taken from you. You'll start caring about ideologies very quickly.
- alexb_ 4y ago>You telling me people don't care about democracy? Or privacy? Or the environment? Nope, they don't. Thinking that people will magically start caring about any of these things is wishful thinking.
- c0mptonFP 4y agoPost your real name and address here, let's see how little you care about privacy.
- deleted 4y ago[deleted]
- NicoJuicy 4y agoCrypto will win by default is a pretty delusional statement. People on the street don't even care about crypto as means of payment. Oh well, perhaps El Salvador will do it to increase democracy... https://twitter.com/nayibbukele/status/1512263501728862215?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1512263501728862215%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fdavidgerard.co.uk%2Fblockchain%2F2022%2F04%2F20%2Fel-salvador-bukele-goes-full-dictator-chivo-theft-bitcoin-towers%2F https://twitter.com/nayibbukele/status/1512263501728862215?r... Yeah right.
- aaaaaaaaata 4y agoWell. There's a new one, and it does a ton more. There deserves to be a distinction — put forth a suggestion?