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Bitcoin is a backstop, a way to step outside manipulated currency. This seems like a phenomenally ironic claim to me. You're giving up government manipulatio
by snozolli 1y ago
Bitcoin is a backstop, a way to step outside manipulated currency.
This seems like a phenomenally ironic claim to me. You're giving up government manipulation in favor of rampant individual manipulation and theft.
- idiotsecant 1y agoHow are we supporting or encouraging theft? When the state increases inflation and the supply of money on a whim, they directly steal value from the little people and funnel it to the big people. That's not possible with crypto.
- fzeroracer 1y agoCrypto just has pump and dump schemes on a practically regular basis, but I guess that's completely different because the way it funnels value is slightly different.
- tcbawo 1y agoPeople frequently lose a significant amount of money due to hacking, fraud, or extortion with no legal recourse. This is not where you want your grandparents parking their life’s savings.
- idiotsecant 1y agoIf someone said literally the same thing op said, but about cash, would you have the same response?
- XorNot 1y agoMy credit card was skimmed and charged $2000 in the US a couple of months ago. I blocked the card from my phone, files a dispute and the charges were reversed. The most annoying part was updating all my linked services, but I lost no money. If someone literally robs the bank I have an account with, I also lose no money even if they actually steal some from the physical vault.
- idiotsecant 1y agoIs there a reason you're responding to this post about cash with a corporate credit anecdote?
- twothreeone 1y agoThat's just ignorance. In crypto "little people" is literally everybody, the "currency" is run by a handful of whales (largely quasi-criminal exchanges and casino mobsters), who have a track record of colluding to manipulate the market and hike up fees. And no, you cannot vote those people out of office. How is that _any_ better?
- hn_acc1 1y agoWhat is the equivalent website to https://web3isgoinggreat.com https://web3isgoinggreat.com for banks, and what is the relative %age lost/stolen on a daily/weekly/monthly basis? I'll bet it's WAY higher for crypto.