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I have long-suspected that a significant part of the hate for crypto from tech-literate people is resentment for not figuring out the success of something they

by pa7x1 4y ago

I have long-suspected that a significant part of the hate for crypto from tech-literate people is resentment for not figuring out the success of something they were equipped to have seen earlier. And here is a little snippet of it at work. > If your friend only had $5k in total and threw them all in Terra then I guess the lesson he got in the crash is way more valuable than any savings he might have kept. He would have lost them anyway on the next shitcoin. So if they lose money, they deserve it. > In the meantime a couple of friends who never worked got rich just because they bought a few thousands $ (money borrowed...from their family) worth of crypto at the right moment. > What is this bullshit? Why am I even busting my ass trying to create value, when I could just buy shitcoins and become a millionaire? If they win money, they don't deserve it. I guess we should just send the money to you.

pastacacioepepe 4y ago
Nah. You're just projecting your fears on me. > So if they lose money, they deserve it. I didn't say that. Just that it was bound to happen sooner or later. It's clear though that as with any other Ponzi scheme, there are people who join early and profit and people who join late and give all their savings to the early comers. OP's friend is one of the late comers. My friends are early comers. > If they win money, they don't deserve it. Again, never said this. I'm just saying that it's a lottery and that it's crazy to have masses of people betting their future livelihoods on this Ponzi scheme. By the way yes, I don't think you really "earned" your wealth if you got it on the lottery or from your parents. Sue me. Or better, get to work and earn your wealth. > resentment No resentment. Just pity for people who think they earned and deserve all they have, when in fact they've just born in the right family, in the right place, at the right time. > I guess we should just send the money to you. Keep your lottery money. As I pretty clearly stated, I want to earn mine with actual work.
- junofan 4y ago
  Taking out a reasonable position is not entering a lottery. Even KPMG allocated.
imtringued 4y ago
From what I can tell Bitcoin is irredeemably flawed. No, I am not jealous for missing the train. I don't have money to fling into a shitcoin even if I was brainwashed enough to believe that this is how one should structure society. I am honestly disappointed that the only cryptocurrency that is worth using is dead. If anything, if I wanted to get into crypto I would have to create my own cryptocurrency which is inherently anti speculative and encourages people to work and trade instead of rent seeking. However, even if I were to do that, I would run into two problems. I don't need a decentralized cryptocurrency for this, a normal bank would be good enough, the only point would be to bypass regulations. Because taxes are payable in a different currency than my own, there would be a constant drain of people selling the currency for dollars to pay taxes for example. Since cryptocurrency is inherently unusable as a medium of exchange, it is a complete failure.

by pa7x1 4y ago

pastacacioepepe 4y ago

Nah. You're just projecting your fears on me. > So if they lose money, they deserve it. I didn't say that. Just that it was bound to happen sooner or later. It's clear though that as with any other Ponzi scheme, there are people who join early and profit and people who join late and give all their savings to the early comers. OP's friend is one of the late comers. My friends are early comers. > If they win money, they don't deserve it. Again, never said this. I'm just saying that it's a lottery and that it's crazy to have masses of people betting their future livelihoods on this Ponzi scheme. By the way yes, I don't think you really "earned" your wealth if you got it on the lottery or from your parents. Sue me. Or better, get to work and earn your wealth. > resentment No resentment. Just pity for people who think they earned and deserve all they have, when in fact they've just born in the right family, in the right place, at the right time. > I guess we should just send the money to you. Keep your lottery money. As I pretty clearly stated, I want to earn mine with actual work.

junofan 4y ago
Taking out a reasonable position is not entering a lottery. Even KPMG allocated.

imtringued 4y ago

From what I can tell Bitcoin is irredeemably flawed. No, I am not jealous for missing the train. I don't have money to fling into a shitcoin even if I was brainwashed enough to believe that this is how one should structure society. I am honestly disappointed that the only cryptocurrency that is worth using is dead. If anything, if I wanted to get into crypto I would have to create my own cryptocurrency which is inherently anti speculative and encourages people to work and trade instead of rent seeking. However, even if I were to do that, I would run into two problems. I don't need a decentralized cryptocurrency for this, a normal bank would be good enough, the only point would be to bypass regulations. Because taxes are payable in a different currency than my own, there would be a constant drain of people selling the currency for dollars to pay taxes for example. Since cryptocurrency is inherently unusable as a medium of exchange, it is a complete failure.