3 ms·

> They are very unlike other currencies, in that almost all of them are rigged [...] So you're actually agreeing with me, that crypto currencies are not a scam

> They are very unlike other currencies, in that almost all of them are rigged [...] So you're actually agreeing with me, that crypto currencies are not a scam. The number of currencies is also irrelevant even in a more colloquial sense. What's more important is how much is really invested in a given currency and the bad tokens are a niche. Ponzi scheme (or just new) coins are usually for gamblers and not in broad use and are comparable to jettons in a casino. Are jettons a scam in that sense?

creatonez 3y ago
We should be alarmed about any money system that has the properties that give way to gambling and ponzi-like systems. I would not hesitate to criticize both the money system and the con artists who took advantage of it, when it's so clear that the money system's rules have such inevitable outcomes. I don't mind abolishing any of the money systems that turn out to be harmful and are pushed without broad sociopolitical consent.
- AnonCoward42 3y ago
  Our current money system has the properties that give way to gambling. You can't pretend that gambling didn't exist before crypto.
  - anonymouskimmer 3y ago
    Very few people are swapping yen and euros trying to get rich from them. The standard gambling that happens with "our current money system" can also happen with self-written IOUs. This kind of gambling isn't about the money, per se, whereas with crypto you get an additional kind of gambling on the currency itself.
    - AnonCoward42 3y ago
      For Yen and Euro it makes less sense since these are relatively stable, but for less stable currencies that is actually a thing. The definition of gambling you are talking about is built into our monetary system. I give you the point that it is harder (not impossible) to enforce any regulations on these currencies. It's like cash in that sense, but it has easy access and there are plenty of options of cash, which is unlike regular cash.
Avshalom 3y ago
No, the casino is the scam that's why the house always wins and just like cryptocurrencies as soon as you build one the incentives are to make it an even more predatory scam. That's why they're variously illegal or heavily regulated

creatonez 3y ago

We should be alarmed about any money system that has the properties that give way to gambling and ponzi-like systems. I would not hesitate to criticize both the money system and the con artists who took advantage of it, when it's so clear that the money system's rules have such inevitable outcomes. I don't mind abolishing any of the money systems that turn out to be harmful and are pushed without broad sociopolitical consent.

AnonCoward42 3y ago
Our current money system has the properties that give way to gambling. You can't pretend that gambling didn't exist before crypto.
- anonymouskimmer 3y ago
  Very few people are swapping yen and euros trying to get rich from them. The standard gambling that happens with "our current money system" can also happen with self-written IOUs. This kind of gambling isn't about the money, per se, whereas with crypto you get an additional kind of gambling on the currency itself.
  - AnonCoward42 3y ago
    For Yen and Euro it makes less sense since these are relatively stable, but for less stable currencies that is actually a thing. The definition of gambling you are talking about is built into our monetary system. I give you the point that it is harder (not impossible) to enforce any regulations on these currencies. It's like cash in that sense, but it has easy access and there are plenty of options of cash, which is unlike regular cash.

Avshalom 3y ago

No, the casino is the scam that's why the house always wins and just like cryptocurrencies as soon as you build one the incentives are to make it an even more predatory scam. That's why they're variously illegal or heavily regulated