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All of them are liars by definition. We know they are all insolvent. Crypto doesn’t create any value, like with an investment in a regular business. So that mu
by louwrentius 4y ago
All of them are liars by definition. We know they are all insolvent.
Crypto doesn’t create any value, like with an investment in a regular business. So that must mean any profit is just money from the latest “unfortunates” that were foolish or desperate enough to buy in.
- mschuster91 4y ago> Crypto doesn’t create any value, like with an investment in a regular business. Generally, I agree that a lot of "cryptocoin" usages are basically fraudulent and scams. Some of them are nothing more than "bragging rights" aka "look at me, I'm rich enough to waste 100 bucks on an NFT by the 45th" or that time when Twitter allowed one to display an NFT as a profile picture. There is one legitimate usage for cryptocurrencies however: anonymity. The amount of traceability that banks, secret services and police have into our lives simply by mapping our transaction activity is insane. Unfortunately, Bitcoin has way too much of an energy consumption and too high latency for mainstream usage outside of drug deliveries via dark web marketplaces, and the alternatives are way too volatile even compared to Bitcoin.
- louwrentius 4y agoAnonimity is a fantasy that makes no sense if you think for a few seconds about it. There is always another person, a company or bank at the other end. The key issue isn’t anonimity but policy and politics. No technology can be above any law by definition.
- mschuster91 4y agoSure, but a currency (or, rather, a transaction system) that is difficult-ish to trace has a value on its own.