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Coffeezilla is right. ALL crypto is 100% scams. There is no 99%. In fact 100% of the time, they have no use case at all and they are even worse than the curre

Coffeezilla is right. ALL crypto is 100% scams. There is no 99%. In fact 100% of the time, they have no use case at all and they are even worse than the current system. Crypto has totally failed time and time again to prove itself. We now need to come to terms with this failed experiment and call it all off and make them all illegal, where it rightfully should reside in. I lament to think of the time wasted of many engineers building this distributed casino and ruining people's lives, these engineers in this 'web3' space should instead direct their time towards solutions to make the world a better place.

terafo 4y ago
> `“I try not to be too negative about crypto,” he told me. “I think about how we can shape it into something better—more like the future that the people making it say they want. In that way, we’re on the same side.”` Have you read the article?
mechanical_bear 4y ago
This is the problem with the internet, it’s so hard to tell satire from actual cranks.
- Tesl 4y ago
  I don't know whether its attempted satire or not - but I unironically agree with it 100%.
- hckrnrd 4y ago
  Now, I wonder if this isn’t just a pot-calling-the-kettle-black comment. Who’s the crank? Who’s the satirist?
awsrocks 4y ago
ratsmack 4y ago
The whole "proof of work" concept regarding crypto is a sham. Normally, the expenditure of energy produces tangible products or services. In the case of crypto currency, massive amounts of heat is wasted to produce a number with questionable "value". I just can't wrap my head around this.
- shreyshnaccount 4y ago
  I've been thinking for a while that proof of work should be replaced with some other type of real work, such as training a Neural Net, but that runs into major issues after thinking about if for more than a second. Hopefully though, someone much smarter than me can figure something out
  - ratsmack 4y ago
    The "value" must be produced outside of the crypto system then moved into the system as a value store. I don't know how this is not an obvious concept.
    - shreyshnaccount 4y ago
      Thats one of the very obvious drawbacks.. Money is a store of value, but crypto just tries to 'be' the value, which doesn't go well, because well it's not valuable at all
- tromp 4y ago
  It produces objective immutability of the transaction history.
  - 8note 4y ago
    Isn't it subjective immutability? Your transaction might disappear from the history if the view changes to have some other branch be the accepted one
    - 4y ago
glerk 4y ago
> We now need to come to terms with this failed experiment and call it all off and make them all illegal Who is “we”? Ironically, crypto was invented to protect individuals against the authoritarian tendencies of people such as yourself. Your comment is making the case for decentralization.
- lvass 4y ago
  >crypto was invented What are you talking about? David Chaum? NSA? Mesopotamian cryptography?
  - glerk 4y ago
    We stand on the shoulders of giants
  - BbzzbB 4y ago
    You know that Edison didn't need to invent wires and glass-working to invent the light-bulb, right?
    - lvass 4y ago
      So who invented "crypto"? What is it even, cryptography? Where can I read their thoughts on authoritarianism?
- mdoms 4y ago
  "We" would be any nation with legitimate climate targets.
  - PretzelPirate 4y ago
    People should remember that blockchain does not require Proof of Work consensus. If you want to ban PoW, be specific about it. If you want to ban blockchain, don’t simply advocate for killing PoW since blockchains will exist without it.
zakember 4y ago
In case you didn't read the article, it clearly mentions that Coffeezilla himself owns some Bitcoin. So no, he doesn't think that "all crypto is 100% scams".
imperio59 4y ago
Peak Silicon Valley. Shit on the latest trend. Say engineers should "make the world a better place.". Well done.
crispyambulance 4y ago
Not 100%, but just as bad. I'd say that is wild mix with hard-to-measure ratios of... * scammers and crooks - who are attracted to crypto like flies on s***. * the naive marks of scammers - who the scammers (and everyone else) are extracting from * true believers - who find value in the concepts. They're willing to overlook the s*-show and actually believe in a libertarian pipe-dream of a better future with crypto as money. * amoral speculators - who could not care less wtf crypto means but just want to dip-and-pull. They're "in it" ONLY insofar as they can convert the funny-money into real-money.
hda2 4y ago
This statement is false. Coffeezilla does not believe that "all crypto is 100% scams". Not even close. In fact, he stated in a recent video that he personally holds cryptocurrency.

terafo 4y ago

> `“I try not to be too negative about crypto,” he told me. “I think about how we can shape it into something better—more like the future that the people making it say they want. In that way, we’re on the same side.”` Have you read the article?

mechanical_bear 4y ago

This is the problem with the internet, it’s so hard to tell satire from actual cranks.

Tesl 4y ago
I don't know whether its attempted satire or not - but I unironically agree with it 100%.
hckrnrd 4y ago
Now, I wonder if this isn’t just a pot-calling-the-kettle-black comment. Who’s the crank? Who’s the satirist?

awsrocks 4y ago

ratsmack 4y ago

The whole "proof of work" concept regarding crypto is a sham. Normally, the expenditure of energy produces tangible products or services. In the case of crypto currency, massive amounts of heat is wasted to produce a number with questionable "value". I just can't wrap my head around this.

shreyshnaccount 4y ago
I've been thinking for a while that proof of work should be replaced with some other type of real work, such as training a Neural Net, but that runs into major issues after thinking about if for more than a second. Hopefully though, someone much smarter than me can figure something out
- ratsmack 4y ago
  The "value" must be produced outside of the crypto system then moved into the system as a value store. I don't know how this is not an obvious concept.
  - shreyshnaccount 4y ago
    Thats one of the very obvious drawbacks.. Money is a store of value, but crypto just tries to 'be' the value, which doesn't go well, because well it's not valuable at all
tromp 4y ago
It produces objective immutability of the transaction history.
- 8note 4y ago
  Isn't it subjective immutability? Your transaction might disappear from the history if the view changes to have some other branch be the accepted one
  - 4y ago

glerk 4y ago

> We now need to come to terms with this failed experiment and call it all off and make them all illegal Who is “we”? Ironically, crypto was invented to protect individuals against the authoritarian tendencies of people such as yourself. Your comment is making the case for decentralization.

lvass 4y ago
>crypto was invented What are you talking about? David Chaum? NSA? Mesopotamian cryptography?
- glerk 4y ago
  We stand on the shoulders of giants
- BbzzbB 4y ago
  You know that Edison didn't need to invent wires and glass-working to invent the light-bulb, right?
  - lvass 4y ago
    So who invented "crypto"? What is it even, cryptography? Where can I read their thoughts on authoritarianism?
mdoms 4y ago
"We" would be any nation with legitimate climate targets.
- PretzelPirate 4y ago
  People should remember that blockchain does not require Proof of Work consensus. If you want to ban PoW, be specific about it. If you want to ban blockchain, don’t simply advocate for killing PoW since blockchains will exist without it.

zakember 4y ago

In case you didn't read the article, it clearly mentions that Coffeezilla himself owns some Bitcoin. So no, he doesn't think that "all crypto is 100% scams".

imperio59 4y ago

Peak Silicon Valley. Shit on the latest trend. Say engineers should "make the world a better place.". Well done.

crispyambulance 4y ago

Not 100%, but just as bad. I'd say that is wild mix with hard-to-measure ratios of... * scammers and crooks - who are attracted to crypto like flies on s***. * the naive marks of scammers - who the scammers (and everyone else) are extracting from * true believers - who find value in the concepts. They're willing to overlook the s*-show and actually believe in a libertarian pipe-dream of a better future with crypto as money. * amoral speculators - who could not care less wtf crypto means but just want to dip-and-pull. They're "in it" ONLY insofar as they can convert the funny-money into real-money.

hda2 4y ago

This statement is false. Coffeezilla does not believe that "all crypto is 100% scams". Not even close. In fact, he stated in a recent video that he personally holds cryptocurrency.