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"I'm just going to cast the whole space as a scam and feel smug about it." This is smugness. It's being aware of a cancerous growth and doing what we can to a

by r00fus 4y ago

"I'm just going to cast the whole space as a scam and feel smug about it." This is smugness. It's being aware of a cancerous growth and doing what we can to avoid and excise it. No, I'm not smug. I'm upset. Crypto has displaced a lot of good investment and effort.

pcthrowaway 4y ago
> Crypto has displaced a lot of good investment Ah, because scamming doesn't happen inside the other classes of investments you're talking about
- BobbyJo 4y ago
  It's obviously a matter of both degree and ROI. A TON of money has been poured into crypto with very little social benefit to show for it. Meanwhile, it has become an effective tool for taking money from the ignorant and giving it to criminals. Parent is painting with broad negative strokes, but they aren't far from reality.
  - cwkoss 4y ago
    I would say A TON of money has been poured into Facebook with very little social benefit to show for it. Money attracts sociopaths, who seek positions of power. I don't think crypto is special or unusual in this sense.
    - BobbyJo 4y ago
      I don't understand why you're doing so as if it's a rebuttal, but I'm glad we could agree.
    - pcthrowaway 4y ago
      Exactly. More broadly, the stock market has less "social benefit" than crypto; it's just a glorified way for people to gamble/invest in things loosely tied to economic performance. Personally I think real estate a an "investment market" is doing much more harm to society than anything else right now
cwkoss 4y ago
If only crypto didn't exist there'd be so much more funds we could sink into adtech, maximizing engagement and outrage within propaganda platforms, SEO, email spam, adding subscription billing to software which previously a single upfront payment, anti-competitive walled-garden tactics, bundling spyware in to apps so you can sell user info to data brokers, and all the other lovely things that tech gives us! /s Assuming you work in tech, do you feel a personal responsibility for all of those cancers?

by r00fus 4y ago

pcthrowaway 4y ago

> Crypto has displaced a lot of good investment Ah, because scamming doesn't happen inside the other classes of investments you're talking about

BobbyJo 4y ago
It's obviously a matter of both degree and ROI. A TON of money has been poured into crypto with very little social benefit to show for it. Meanwhile, it has become an effective tool for taking money from the ignorant and giving it to criminals. Parent is painting with broad negative strokes, but they aren't far from reality.
- cwkoss 4y ago
  I would say A TON of money has been poured into Facebook with very little social benefit to show for it. Money attracts sociopaths, who seek positions of power. I don't think crypto is special or unusual in this sense.
  - BobbyJo 4y ago
    I don't understand why you're doing so as if it's a rebuttal, but I'm glad we could agree.
  - pcthrowaway 4y ago
    Exactly. More broadly, the stock market has less "social benefit" than crypto; it's just a glorified way for people to gamble/invest in things loosely tied to economic performance. Personally I think real estate a an "investment market" is doing much more harm to society than anything else right now

cwkoss 4y ago

If only crypto didn't exist there'd be so much more funds we could sink into adtech, maximizing engagement and outrage within propaganda platforms, SEO, email spam, adding subscription billing to software which previously a single upfront payment, anti-competitive walled-garden tactics, bundling spyware in to apps so you can sell user info to data brokers, and all the other lovely things that tech gives us! /s Assuming you work in tech, do you feel a personal responsibility for all of those cancers?