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Yes, we have reviewed the white purple yellow paper that's 9 inches thick. It was mostly just cat memes.
This really is a very low level of discourse.
Bitconnect founder indicted in global $2.4B cryptocurrency scheme
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Re: Bitconnect founder indicted in global $2.4B cryptocurrency scheme
#102No post body was provided.
Re: Bitconnect founder indicted in global $2.4B cryptocurrency scheme
#103Re: Bitconnect founder indicted in global $2.4B cryptocurrency scheme
#104So now their stuff is actually valued $2.4B and it's no longer monopoly money?
They got people to trade good money ($2.4B) for monopoly money and then ran off with the real money.
Re: Bitconnect founder indicted in global $2.4B cryptocurrency scheme
#105Earlier quoted context omitted.
Is there a cryptocurrency token sale that's not designed to defraud the buyers?
There are a couple of "token sales" (they don't call them that) that only allowed accredited investors to invest, and had their "token sales" registered with the SEC before they went live with them. If those were designed to defraud the investors, I'm pretty sure SEC would go after those first.
Yep. It comes down to information asymmetry. Harder to trick and scam accredited investors
Most token sales make good money with very low effort scams
Re: Bitconnect founder indicted in global $2.4B cryptocurrency scheme
#106Crypto may well be the biggest solution looking for a problem I've ever seen. Apart from the obvious issues (eg energy expenditure) the one myth that needs to die about crypto is that it is extragovernmental and indictments such as this and the Bitfinex laundering case recently should underline that. The simple fact is that the developed world could shut down what little utility cryptocurrencies (and NFTs) have tomor…
Cryptocurrency is the solution for a very valuable problem. How do you commit financial crimes and frauds in a way just new enough to confuse people that what you're doing may be valuable?
I do thousands of transactions with thousands of people every day without committing financial crimes and without paying any fees. It's extremely valuable to my businesses.
Wrenches can be used as weapons but they are also essential for plumbers.
Re: Bitconnect founder indicted in global $2.4B cryptocurrency scheme
#107Earlier quoted context omitted.
Yes, we have reviewed the white purple yellow paper that's 9 inches thick. It was mostly just cat memes.
So you’re just a troll without any carefully researched knowledge.
Most of them know what exactly cryptocurrencies/blockchain are in detail. But usually the negativity comes 'muh climate change' while having 100x carbon footprint than an average individual let's say in El Salvador.
Other point is that a lot of these folks dislike what cryptocurrencies are used for like decentralization, censorship-resistance, financial privacy etc
Then there are those who are still butthurt that they did not buy Bitcoin when it was $100.
Re: Bitconnect founder indicted in global $2.4B cryptocurrency scheme
#108Earlier quoted context omitted.
You're moving the goal posts. It's fine to be against cryptocurrencies, but I think it damages your credibility when you claim bitcoin is a ponzi scheme. Since it shows a lack of understanding of what a ponzi scheme actually is. By you I don't mean you in particular, I mean it in a more general sense.
We can argue about what constitutes a proper Ponzi scheme, but the idea that the promotion of crypto thus far has existed to allow early adopters to cash out at the apparent expense of later adopters, while bringing essentially no other utility to any of its backers or the public at large, is pretty obvious.
This is just plainly not the definition of a ponzi scheme
Re: Bitconnect founder indicted in global $2.4B cryptocurrency scheme
#109Earlier quoted context omitted.
The biggest part is for onboarding. The second biggest is for lower fees. The third biggest is because it's easier.
And all three of those parts are why the crypto dream of decentralized payments for all will never come to fruition. It is simply not possible for a decentralized system to have the same convenience and low cost as a centralized system. In the end, any decentralized system will tend to have a centralized layer built on top of it that eventually makes the underlying decentralized system obsolete. We see this everywher…
I don't see the issue. Plenty of things exist and are useful without being convenient for Joe sixpack to use directly.
Re: Bitconnect founder indicted in global $2.4B cryptocurrency scheme
#110Earlier quoted context omitted.
Cryptocurrency is the solution for a very valuable problem. How do you commit financial crimes and frauds in a way just new enough to confuse people that what you're doing may be valuable?
I do thousands of transactions with thousands of people every day without committing financial crimes and without paying any fees. It's extremely valuable to my businesses. Wrenches can be used as weapons but they are also essential for plumbers.
It’s more that you found a legitimate use for Agent Orange.