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Coffeezilla, a YouTuber Exposing Crypto Scams

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Re: Coffeezilla, a YouTuber Exposing Crypto Scams

#61

Post by alexb_ »

nyolfen wrote: post #44
johnebgd wrote: post #42

Blockchain has two proven use cases: 1.) Speculative investment assets. 2.) Moving value outside of a financial system. Unregulated stable coins have proven to be as stable as the titanic was unsinkable. Number 1 is really a problem because of Number 2. Number 2 is a fancy way to describe a primary use case being money laundering. Of course though there are some instances where that’s helpful like backing a foreign g…

your talking points are from like 2012 man. off the top of my head: remittances, online retail, trustless decentralized computational systems

Remittances and online retail is already done quite well with centralized systems. "Trustless decentralization" is only relevant when you are doing things illegal. Which, as it turns out, is the main usecase of cryptocurrency.

Re: Coffeezilla, a YouTuber Exposing Crypto Scams

#62

Post by syzygyhack »

johnebgd wrote: post #42

Blockchain has two proven use cases: 1.) Speculative investment assets. 2.) Moving value outside of a financial system. Unregulated stable coins have proven to be as stable as the titanic was unsinkable. Number 1 is really a problem because of Number 2. Number 2 is a fancy way to describe a primary use case being money laundering. Of course though there are some instances where that’s helpful like backing a foreign g…

> Unregulated stable coins have proven to be as stable as the titanic was unsinkable.

When in the last five years have you had difficulty cashing out USDT, USDC, or DAI at dollar value?

Re: Coffeezilla, a YouTuber Exposing Crypto Scams

#63

Post by clippablematt »

johnebgd wrote: post #42

Blockchain has two proven use cases: 1.) Speculative investment assets. 2.) Moving value outside of a financial system. Unregulated stable coins have proven to be as stable as the titanic was unsinkable. Number 1 is really a problem because of Number 2. Number 2 is a fancy way to describe a primary use case being money laundering. Of course though there are some instances where that’s helpful like backing a foreign g…

Stablecoins without collateral backing them have repeatedly failed (and they failed when they were tried before crypto too), but dai/rai/usdc are working fine.

At this point I’d like to sees US regulation around $ stablecoins so we can use something else and reduce the power of the US dollar in the world. Go ahead America, regulate yourselves.

Re: Coffeezilla, a YouTuber Exposing Crypto Scams

#64

Post by polygamous_bat »

syzygyhack wrote: post #62
johnebgd wrote: post #42

Blockchain has two proven use cases: 1.) Speculative investment assets. 2.) Moving value outside of a financial system. Unregulated stable coins have proven to be as stable as the titanic was unsinkable. Number 1 is really a problem because of Number 2. Number 2 is a fancy way to describe a primary use case being money laundering. Of course though there are some instances where that’s helpful like backing a foreign g…

> Unregulated stable coins have proven to be as stable as the titanic was unsinkable. When in the last five years have you had difficulty cashing out USDT, USDC, or DAI at dollar value?

Because past performance is _always_ indicative of future performance, am I right?

> When in the last five years have you had difficulty cashing out USDT, USDC, or DAI at dollar value?

You could have said the exact same thing about Terra/UST right until sometimes last week. It works until it doesn't.

Re: Coffeezilla, a YouTuber Exposing Crypto Scams

#65

Post by polygamous_bat »

nyolfen wrote: post #44
johnebgd wrote: post #42

Blockchain has two proven use cases: 1.) Speculative investment assets. 2.) Moving value outside of a financial system. Unregulated stable coins have proven to be as stable as the titanic was unsinkable. Number 1 is really a problem because of Number 2. Number 2 is a fancy way to describe a primary use case being money laundering. Of course though there are some instances where that’s helpful like backing a foreign g…

your talking points are from like 2012 man. off the top of my head: remittances, online retail, trustless decentralized computational systems

Maybe people wouldn't repeat the 2012 talking points 10 years later if crypto had improved in any way since then. But no, all that has happened is the growth of a massive speculative bubble on top, while the fundamental issues remain the same.

Re: Coffeezilla, a YouTuber Exposing Crypto Scams

#66

Post by TimPC »

dubswithus wrote: post #59
TimPC wrote: post #55

I think the one university that closed in Illinois due to a ransom attack made possible by Crypto will in the long run prove to be more valuable to society than all of crypto. If only we had some way of preserving all the things crypto destroys.

Was ransomware really not a thing before Bitcoin?

It was far rarer because it was much more difficult to collect payments.

Re: Coffeezilla, a YouTuber Exposing Crypto Scams

#67

Post by lvass »

glerk wrote: post #47
colesantiago wrote: post #34

Coffeezilla is right. ALL crypto is 100% scams. There is no 99%. In fact 100% of the time, they have no use case at all and they are even worse than the current system. Crypto has totally failed time and time again to prove itself. We now need to come to terms with this failed experiment and call it all off and make them all illegal, where it rightfully should reside in. I lament to think of the time wasted of many e…

> We now need to come to terms with this failed experiment and call it all off and make them all illegal Who is “we”? Ironically, crypto was invented to protect individuals against the authoritarian tendencies of people such as yourself. Your comment is making the case for decentralization.

>crypto was invented

What are you talking about? David Chaum? NSA? Mesopotamian cryptography?

Re: Coffeezilla, a YouTuber Exposing Crypto Scams

#68

Post by tomrod »

polygamous_bat wrote: post #64
syzygyhack wrote: post #62

Earlier quoted context omitted.

> Unregulated stable coins have proven to be as stable as the titanic was unsinkable. When in the last five years have you had difficulty cashing out USDT, USDC, or DAI at dollar value?

Because past performance is _always_ indicative of future performance, am I right? > When in the last five years have you had difficulty cashing out USDT, USDC, or DAI at dollar value? You could have said the exact same thing about Terra/UST right until sometimes last week. It works until it doesn't.

Typically, past performance is indicative of future behavior. This is why statistical modeling in social sciences works somewhat okay. But there are extrapolation regions or shorter memory missing prior events that cause behavior to deviate from status quo expectation.

Re: Coffeezilla, a YouTuber Exposing Crypto Scams

#69

Post by polygamous_bat »

dubswithus wrote: post #59
TimPC wrote: post #55

I think the one university that closed in Illinois due to a ransom attack made possible by Crypto will in the long run prove to be more valuable to society than all of crypto. If only we had some way of preserving all the things crypto destroys.

Was ransomware really not a thing before Bitcoin?

It may have, but crypto allowed it to become truly scalable. Before, you had to coordinate with each of your victims about how to receive the ransom while trying to evade the authorities. Now you can just take over a random machine, paint a Bitcoin address on the screen, and voila, you're done.

Re: Coffeezilla, a YouTuber Exposing Crypto Scams

#70

Post by Feriti »

can16358p wrote: post #36

Good for crypto. I'm a crypto enthusiast and I think crypto has a great future and work in the field. However because of many scammy projects the whole crypto ecosystem now has a bad name. I'd love to see more and more scams being exposed for healthy adoption with less manipulation and real investment to projects that have the potential to change things instead of 400000% APYs.

So what are real use cases in your opinion?

Something which really need crypto/Blockchain and is really trustworthy?

Something which doesn't break the trust Anker of a Blockchain by having any dependency outside of a Blockchain.

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