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I mean what you're describing is the central core of the grift. Complex sounding technical mumbo-jumbo delivered with supreme confidence and seeming internal c
by deanCommie 4y ago
I mean what you're describing is the central core of the grift.
Complex sounding technical mumbo-jumbo delivered with supreme confidence and seeming internal consistency is how you convince the plebs to invest their life savings in various forms of crypto.
0.1% understand the original underlying technology
0.9% understands the applications possible to be built on top of it
99% are following the 1% and writing governmental and financial policy, and voting with their wallets.
I wish I could say we will look back and shake our heads at it like we do today at Tulip Mania, but I suspect we're watching the birth and childhood of a new religion. Crypto isn't going anywhere for the rest of our lives, and just as we have to keep vigilantly fighting against Scientology permeating tax policy, or religion in general always attempting to undermine secular society, Crypto will continue to be a thorn in society for a long time.
- cbtacy 4y agoding ding ding! we have a winner!!!
- asdajksah2123 4y agoUsual disclaimers: Blockchain is a real technology and crypto currencies have uses, both of which are a tiny fraction of what their backers claim. Take away the hyperbole and technical mumbo jumbo interlaced with the financial mumbo jumbo, and cryptocurrencies and blockchain are less interesting than the latest PostgreSQL update. But it's that mumbo jumbo that separates ordinary people from their dollars.
- low_tech_love 4y agoYeah, I wasn’t really talking about the technology itself. You’re absolutely correct. I was talking more about the financial engineering side.