4 ms·

Sorry, but can we just stop repeating the wildly unevidenced claims of the gullible and frauds? Who are the 'underbanked' ? What are their needs? What are the

Sorry, but can we just stop repeating the wildly unevidenced claims of the gullible and frauds? Who are the 'underbanked' ? What are their needs? What are the current solutions? There is nothing "there" in crypto. It's a scam. Go and obtain every textbook you can on amazon about blockchains, bitcoin, crypto systems etc. and investigate their authors. I've just done that: they're all part of various crypto schemes. They all make these insane claims in passing. NONE provide any evidence, any argument, anything at all. None provide an analysis of the current systems in question, the various alternatives, and so on -- none show that blockchain is even minimally relevant to solving ANY problem. This is a profoundly manipulated market: all the numbers are fake, all the ideas are fake, all the people are fake.

csomar 4y ago
It's okay. Only you is real.
eimrine 4y ago
I downvoted because you are telling too loud worlds: you claim to read all the books, investigated all its authors, realized all of them has some crooked interest and especially because you fail to see any problem solved. You are such a liar.
- overthrow 4y ago
  The fun part about such bombastic claims is they can be disproven with just one counterexample. https://www.nasdaq.com/articles/us-government-enlists-usdc-for-global-foreign-policy-objective-in-venezuela%3A-circle-ceo https://www.nasdaq.com/articles/us-government-enlists-usdc-f... > US Government Enlists USDC for ‘Global Foreign Policy Objective’ in Venezuela: Circle CEO Even the US government is willing to admit there are situations where crypto is the best option available.
  - mjburgess 4y ago
    Indeed -- all that's required is a single example. > USD Coin (USDC) is a digital stablecoin pegged to the United States dollar. Nothing is denominated in USDC, it isnt a currency (indeed, no cryptocurrency is a currency, since none are a https://en.wikipedia.org/wiki/Unit_of_account https://en.wikipedia.org/wiki/Unit_of_account ). The USD is the currency here. So the mechanism here is that people in Venezuela have a route to obtaining USD without having to use the banking system because they can sell their USDC electronically. What in this process requires (or even benefits from) blockchain exactly, or cryptocurrency? Venezuela already has extensive digital payment systems, and there's lots of ways of getting money directly to people today. This USDC project was just a lobbied-for newspaper story. The story above, as all of them, is a result of intense lobbying by shysters who use these throwaway-projects to pump the value of their assets. Stories like this come out all the time, usually within 5 years there's an embarrassing write up of all those involved. I have no doubt a huge amount of money was wasted using the UDSC "option", enriching many of those involved. Articles like the above do not tell you about the alternatives, they're written to hype crypto. This is what i mean about the "ideas market" in crypto being as fake as the prices market: it's all manipulated. All these stories are written and released by people profoundly invested in lying to you.
    - overthrow 4y ago
      > Venezuela already has extensive digital payment systems Sure, but those systems had been sabotaged by a politican/dictator named Nicolás Maduro who rejected the results of an election. > What in this process requires (or even benefits from) blockchain exactly, or cryptocurrency? A decentralized payments system is one that cannot be shut down by Nicolás Maduro. Do you think the Venezuelan crisis was just a big conspiracy theory?
      - mjburgess 4y ago
        I think if people have working mobile phones then they're able to be sent electronic cash without a p2p system. Indeed, more easily than having a VPN and relevant skills to received crypto assets. The state here owns the network, rendering all the premises of peer-to-peer systems invalid and thus all of their guarantees. If the government there wanted to prevent receipt of USDC it well could, as much as it can completely cutoff the country from arbitary parts of the internet. Indeed, it would seem much more inclined to do that than cut off the mobile network. The reason it hasnt done so is preference, not that peer-to-peer systems are magic.
dS0rrow 4y ago
https://github.com/monero-project/research-lab/raw/master/whitepaper/whitepaper.pdf https://github.com/monero-project/research-lab/raw/master/wh...
peterscbrown 4y ago
"...none show that blockchain is even minimally relevant to solving ANY problem." The price of Bitcoin in 2013 was $200. Today it's $29,000. Wouldn't you say that, at a minimum, it's doing a good job of storing value in an inflationary environment? At best it is creating some spectacular wealth which is real.

csomar 4y ago

It's okay. Only you is real.

eimrine 4y ago

I downvoted because you are telling too loud worlds: you claim to read all the books, investigated all its authors, realized all of them has some crooked interest and especially because you fail to see any problem solved. You are such a liar.

overthrow 4y ago
The fun part about such bombastic claims is they can be disproven with just one counterexample. https://www.nasdaq.com/articles/us-government-enlists-usdc-for-global-foreign-policy-objective-in-venezuela%3A-circle-ceo https://www.nasdaq.com/articles/us-government-enlists-usdc-f... > US Government Enlists USDC for ‘Global Foreign Policy Objective’ in Venezuela: Circle CEO Even the US government is willing to admit there are situations where crypto is the best option available.
- mjburgess 4y ago
  Indeed -- all that's required is a single example. > USD Coin (USDC) is a digital stablecoin pegged to the United States dollar. Nothing is denominated in USDC, it isnt a currency (indeed, no cryptocurrency is a currency, since none are a https://en.wikipedia.org/wiki/Unit_of_account https://en.wikipedia.org/wiki/Unit_of_account ). The USD is the currency here. So the mechanism here is that people in Venezuela have a route to obtaining USD without having to use the banking system because they can sell their USDC electronically. What in this process requires (or even benefits from) blockchain exactly, or cryptocurrency? Venezuela already has extensive digital payment systems, and there's lots of ways of getting money directly to people today. This USDC project was just a lobbied-for newspaper story. The story above, as all of them, is a result of intense lobbying by shysters who use these throwaway-projects to pump the value of their assets. Stories like this come out all the time, usually within 5 years there's an embarrassing write up of all those involved. I have no doubt a huge amount of money was wasted using the UDSC "option", enriching many of those involved. Articles like the above do not tell you about the alternatives, they're written to hype crypto. This is what i mean about the "ideas market" in crypto being as fake as the prices market: it's all manipulated. All these stories are written and released by people profoundly invested in lying to you.
  - overthrow 4y ago
    > Venezuela already has extensive digital payment systems Sure, but those systems had been sabotaged by a politican/dictator named Nicolás Maduro who rejected the results of an election. > What in this process requires (or even benefits from) blockchain exactly, or cryptocurrency? A decentralized payments system is one that cannot be shut down by Nicolás Maduro. Do you think the Venezuelan crisis was just a big conspiracy theory?
    - mjburgess 4y ago
      I think if people have working mobile phones then they're able to be sent electronic cash without a p2p system. Indeed, more easily than having a VPN and relevant skills to received crypto assets. The state here owns the network, rendering all the premises of peer-to-peer systems invalid and thus all of their guarantees. If the government there wanted to prevent receipt of USDC it well could, as much as it can completely cutoff the country from arbitary parts of the internet. Indeed, it would seem much more inclined to do that than cut off the mobile network. The reason it hasnt done so is preference, not that peer-to-peer systems are magic.

dS0rrow 4y ago

https://github.com/monero-project/research-lab/raw/master/whitepaper/whitepaper.pdf https://github.com/monero-project/research-lab/raw/master/wh...

peterscbrown 4y ago

"...none show that blockchain is even minimally relevant to solving ANY problem." The price of Bitcoin in 2013 was $200. Today it's $29,000. Wouldn't you say that, at a minimum, it's doing a good job of storing value in an inflationary environment? At best it is creating some spectacular wealth which is real.