5 ms·
Sure, they want their own con, oops typo, their own coin.
by not2b 4y ago
Sure, they want their own con, oops typo, their own coin.
- guywithahat 4y agoI mean some are legitimate services. I've never intentionally invested in crypto but I use it to pay for services or donate money all the time
- chx 4y agoAll crypto are a scam. They can not be anything else because transaction fees make them a negative sum game. Everything else is just a lot of smoke and mirrors over this very basic and fundamental fact.
- marcusverus 4y agoAll non-cash transactions have associated fees--they're just obfuscated because consumers don't pay them directly. Visa takes 1.15% of every transaction, for example. There's no such thing as a free lunch. Crypto fees are too high, though. The average ETH transaction is, I think, ~$6. That means it's uneconomical in the vast majority of cases. Of course, everyone who uses it knows this, which makes for an odd scam, don't you think?
- chx 4y agoBut you can have cash transactions, the rest is convenience. You can not have that with crypto.
- diego_sandoval 4y agoThe fees in most Bitcoin Cash (BCH), Monero and Litecoin transactions are fractions of a cent.
- rom-antics 4y agoAll of life is a scam. The net amount of entropy in the universe continually increases. Existence itself is a negative sum game. In a cosmic blink of an eye, the sun will swallow the earth and humanity will go extinct. Any meaning people find in life is just a lot of smoke and mirrors over this very basic and fundamental fact.
- notch898a 4y agoUsing your standard the same is said of cash. It costs money to print it, labor to count it, etc. Currencies are almost always negative sum at least if you don't count the utility of the use of the currency itself. Maybe you can argue gold or something like that is excepted as it can be used as productive capital as catalyst for chemical reactions or as a conductor etc.
- geommr 4y agowhat about crypto that have zero fees?
- arcticbull 4y ago> I mean some are legitimate services. No, there aren't.
- colesantiago 4y agoThere are no legitimate services in crypto at all. > I use it to pay for services or donate money all the time I can do this with Pix, UPI, Wise, Apple Pay, MPesa, etc. What is crypto doing that is so special other than complete gambling and speculation?
- irusensei 4y agoCan you use those systems anonymously and permissionless?
- colesantiago 4y agoNo, because both requirements you just stated are only attractive to criminals, terrorists, ransomware authors, billionaires and utopianists who have an unjustified extreme dislike of the state all to not pay taxes.
- irusensei 4y agoYou mean criminals like drug dealers on the dark web? Or criminals like the people protesting against Lukashenko's rigged elections? Or even criminals like the endsars movement against police brutality on Nigeria? I'm really sorry if this offends you but I think your opinions on tech and what constitutes a crime are really narrow. Perhaps you should check your financial privilege?
- deleted 4y ago[deleted]
- colesantiago 4y agoPretty much anything that allows you to break the law. So yes, criminals.
- dlubarov 4y agoThere's lots of perfectly legal commerce that middlemen like Wise refuse to facilitate: https://wise.com/acceptable-use-policy https://wise.com/acceptable-use-policy