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BBC cryptocurrency documentary pulled from air at last minute

theguardian.com

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Re: BBC cryptocurrency documentary pulled from air at last minute

#51

Post by gitfan86 »

captaincaveman wrote: post #27
luckyandroid wrote: post #11

Earlier quoted context omitted.

Every person I've spoken to who's told me they're interested in crypto literally only care about it to make money, and have no interest in learning how it works. They all treat every last crypto-based use as investment like stocks, and not as a normal economic choice (e.g. "I want $3000 worth of bitcoin to buy a car" is not something people are doing, instead it's all "I want $3000 worth of bitcoin because the intern…

Your not buying the rights, that's the most annoying thing about NFTs, that people don't get.

That has changed recently, people in these communities believe that NFTs are only valid if verified by opensea. So you are now buying ownership as opensea is beginning the enforcement of copyright.

They are pulling a bait and switch.

Re: BBC cryptocurrency documentary pulled from air at last minute

#52

Post by api »

WilTimSon wrote: post #2

It's astonishing to me that people will just buy into any success story that involves crypto and NFTs. People don't question why poorly drawn pictures are being bought for thousands of dollars, don't question why there are hundreds of altcoins on the market and some "cryptocurrency experts" are supposedly "offering free tips" on investment. The whole space is rife with scams and embellishments and yet there are so ma…

People generally don't question when number goes up. They only question when it doesn't.

Re: BBC cryptocurrency documentary pulled from air at last minute

#53

Post by frockington1 »

cuteboy19 wrote: post #24
luckyandroid wrote: post #11

Earlier quoted context omitted.

Every person I've spoken to who's told me they're interested in crypto literally only care about it to make money, and have no interest in learning how it works. They all treat every last crypto-based use as investment like stocks, and not as a normal economic choice (e.g. "I want $3000 worth of bitcoin to buy a car" is not something people are doing, instead it's all "I want $3000 worth of bitcoin because the intern…

This is largely because there is almost nothing you can do with crypto apart from speculate and gamble. The more I learn about stuff like defi the more I understand just how fractally useless crypto is.

The idea is it's not beholden to a government (though still somewhat centralized somewhere). Crypto is helping people in Turkey store value. With current inflation and economic conditions in the US and Europe more may need it in the near future.

Re: BBC cryptocurrency documentary pulled from air at last minute

#54

Post by bigodbiel »

luckyandroid wrote: post #11
WilTimSon wrote: post #2

It's astonishing to me that people will just buy into any success story that involves crypto and NFTs. People don't question why poorly drawn pictures are being bought for thousands of dollars, don't question why there are hundreds of altcoins on the market and some "cryptocurrency experts" are supposedly "offering free tips" on investment. The whole space is rife with scams and embellishments and yet there are so ma…

Every person I've spoken to who's told me they're interested in crypto literally only care about it to make money, and have no interest in learning how it works. They all treat every last crypto-based use as investment like stocks, and not as a normal economic choice (e.g. "I want $3000 worth of bitcoin to buy a car" is not something people are doing, instead it's all "I want $3000 worth of bitcoin because the intern…

What I find even more frustrating is that even your average retail broker is more knowledgeable, relatively speaking, than their crypto counterpart (not that crypto’s inherent dark forest helps).

Re: BBC cryptocurrency documentary pulled from air at last minute

#55

Post by frockington1 »

thematrixturtle wrote: post #37
pibechorro wrote: post #21

Earlier quoted context omitted.

In any open market you are going to have the whole spectrum. You fail to mention the positive transformation and liberation of millions of people by crypto. From Nigeria, to Turkey, to Argentina millions are being saved from decades of financial isolation or straight up robbery by their corrupt institutions. You look at the glass half empty my friend.

Sigh, this old hoary chestnut again. I don't suppose you'd have the thinnest shred of evidence of those "millions"?

Look at Turkish Lira inflows into crypto in recent months. You'll see the value. Also check out the inflow of USD as the Federal Reserve printed trillions of new dollars

Re: BBC cryptocurrency documentary pulled from air at last minute

#56

Post by tomatocracy »

sakarisson wrote: post #33
globular-toast wrote: post #20

Earlier quoted context omitted.

Why limit it to crypto? People don't question why the value of houses seems to magically rise globally despite no tangible value being added to the assets in most cases. People don't question why Wall Street traders get rich by trading second derivatives of mortgage backed securities with each other all day. What makes a mortgage any more "real" than an NFT?

You can live in a house, you can't live in an NFT.

Yes. NFTs are perhaps more akin to people who sell "plots of land" on the moon or Mars.

Re: BBC cryptocurrency documentary pulled from air at last minute

#57

Post by Allower »

WilTimSon wrote: post #2

It's astonishing to me that people will just buy into any success story that involves crypto and NFTs. People don't question why poorly drawn pictures are being bought for thousands of dollars, don't question why there are hundreds of altcoins on the market and some "cryptocurrency experts" are supposedly "offering free tips" on investment. The whole space is rife with scams and embellishments and yet there are so ma…

No post body was provided.

Re: BBC cryptocurrency documentary pulled from air at last minute

#58

Post by dudeinhawaii »

ben_w wrote: post #19
WilTimSon wrote: post #2

It's astonishing to me that people will just buy into any success story that involves crypto and NFTs. People don't question why poorly drawn pictures are being bought for thousands of dollars, don't question why there are hundreds of altcoins on the market and some "cryptocurrency experts" are supposedly "offering free tips" on investment. The whole space is rife with scams and embellishments and yet there are so ma…

While I generally agree with your sentiment, some of the most iconic art in the world seems to me to be poorly made and I have no idea why they are valued or admired. I don’t just mean the usual go-to controversial examples in modern art like Serrano’s “Piss Christ”[0] or Emin’s “My Bed”[1], as even some older stuff like Klimt’s “Der Kuss”[2] give me this confusion (the woman has always looked to me like she has a br…

Well, you just burst our family bubble. By random chance I clicked your last link and saw... the painting my wife has had hanging prominently, horizontally, for years and neither of us questioned that it was an original work by a local artist. It looked just... "meh" enough for me to believe it. Also, I don't know much about art.

Re: BBC cryptocurrency documentary pulled from air at last minute

#59

Post by rglullis »

luckyandroid wrote: post #11
WilTimSon wrote: post #2

It's astonishing to me that people will just buy into any success story that involves crypto and NFTs. People don't question why poorly drawn pictures are being bought for thousands of dollars, don't question why there are hundreds of altcoins on the market and some "cryptocurrency experts" are supposedly "offering free tips" on investment. The whole space is rife with scams and embellishments and yet there are so ma…

Every person I've spoken to who's told me they're interested in crypto literally only care about it to make money, and have no interest in learning how it works. They all treat every last crypto-based use as investment like stocks, and not as a normal economic choice (e.g. "I want $3000 worth of bitcoin to buy a car" is not something people are doing, instead it's all "I want $3000 worth of bitcoin because the intern…

If everyone you've spoken to is only interested in the money, maybe you should speak with different people?

Or if this is just hyperbole, perhaps accept that Sturgeon's Law is valid even for human behavior in relation to finance and economics?

People were making unbelievably stupid decisions and came up with the most ridiculous rationalizations for "investing" in the dot-com bubble. Same thing with real estate a decade later. It is not just because a market is overheated that we should dismiss the industry entirely.

(I am not saying that those with better judgement should just go and exploit the irrationality of the masses. What I am saying is that there is no way to argue anyone into making rational decisions.)

Re: BBC cryptocurrency documentary pulled from air at last minute

#60

Post by yostrovs »

frockington1 wrote: post #53
cuteboy19 wrote: post #24

Earlier quoted context omitted.

This is largely because there is almost nothing you can do with crypto apart from speculate and gamble. The more I learn about stuff like defi the more I understand just how fractally useless crypto is.

The idea is it's not beholden to a government (though still somewhat centralized somewhere). Crypto is helping people in Turkey store value. With current inflation and economic conditions in the US and Europe more may need it in the near future.

How can crypto be a store of value when the market price fluctuates so wildly? Bitcoin, etc fell much more in one day recently than the Turkish lira fell over many months. And one is supposedly using Bitcoin to avoid inflation in the lira?
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