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Coffeezilla, a YouTuber Exposing Crypto Scams

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Re: Coffeezilla, a YouTuber Exposing Crypto Scams

#171

Post by BbzzbB »

lvass wrote: post #67
glerk wrote: post #47

Earlier quoted context omitted.

> 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?

You know that Edison didn't need to invent wires and glass-working to invent the light-bulb, right?

Re: Coffeezilla, a YouTuber Exposing Crypto Scams

#172

Post by nyolfen »

low_tech_love wrote: post #146
nyolfen wrote: post #121

Earlier quoted context omitted.

i run a small retail business that only accepts crypto and it's been doing fine

Could you tell us why you chose to do that?

partly to seize a market niche and avoid fees, partly as a proof of concept for others (i wrote up the technical details), and partly because the product is crypto-adjacent, which most CC processors won't touch. i highly recommend the software i use, you can fairly easily turn it into an automated vending machine for digital goods that relies on no middlemen: https://btcpayserver.org/

my business is not even close to legally questionable but i prefer not to dox myself on this account. i found a friendly CC processor that i'm waiting on approval from, so it will be hybrid eventually.

Re: Coffeezilla, a YouTuber Exposing Crypto Scams

#173

Post by renonce »

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?

USDT and USDC are certainly not "unregulard stable coins". DAI is collateralized and well-designed. In fact its value were often above $1 in the SAI days until the USDT-USDC-DAI pool was created and it became possible to mint $1 DAI with $1.01 USDC.

Re: Coffeezilla, a YouTuber Exposing Crypto Scams

#174

Post by nyolfen »

alexb_ wrote: post #79
tshaddox wrote: post #75

Earlier quoted context omitted.

“Nothing to worry about if you’ve got nothing to hide” goes back even further than 2012.

That has absolutely nothing to do with what I'm saying. What I am saying is that cryptocurrencies are so horrible in every way except anonymity that the ONLY reason you would use it is for illegal activities, speculation, or paranoia.

i personally use it as a passive, diversified savings instrument, but i don't mess with altcoins or trading. most crypto is actually exceptionally bad for anonymity, worse than cash, and the proportion of criminal activity it facilitates is 1-2 orders of magnitude lower than the conventional economy: https://www.forbes.com/sites/haileylennon/2021/01/19/the-fal...

it is in fact so bad for anonymity that i suspect you have not read much about it!

i don't disagree that it features a lot of hype bubbles and ridiculous speculation, but that's hardly specific to cryptocurrency. how's your local housing market been looking lately?

Re: Coffeezilla, a YouTuber Exposing Crypto Scams

#175

Post by hda2 »

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…

This statement is false. Coffeezilla does not believe that "all crypto is 100% scams". Not even close. In fact, he stated in a recent video that he personally holds cryptocurrency.

Re: Coffeezilla, a YouTuber Exposing Crypto Scams

#176

Post by lvass »

BbzzbB wrote: post #171
lvass wrote: post #67

Earlier quoted context omitted.

>crypto was invented What are you talking about? David Chaum? NSA? Mesopotamian cryptography?

You know that Edison didn't need to invent wires and glass-working to invent the light-bulb, right?

So who invented "crypto"? What is it even, cryptography? Where can I read their thoughts on authoritarianism?

Re: Coffeezilla, a YouTuber Exposing Crypto Scams

#177

Post by [deleted] »

NineStarPoint wrote: post #27
photochemsyn wrote: post #11

I'd like to see someone like this really try to explain the global non-crypto currency system as it exists today in similar detail. This after all was one of the touted reasons for crypto - it would allow people around the world to hold wealth in a stable currency that wouldn't be subject to market crashes and currency devaluations. There are so many interesting questions that remain undiscussed - such as, to what ex…

* > If investing in crypto is a scam, why isn't investing in these other currencies also a scam? * I know very few people who recommend investing in currencies to begin with. You invest in either hard assets (intrinsic value that currencies get pegged against), productive assets (companies value that can increase as they become more productive) or government bonds (interest rate means you get more fiat currency back…

[deleted]

Re: Coffeezilla, a YouTuber Exposing Crypto Scams

#179

Post by effingwewt »

shanusmagnus wrote: post #93
effingwewt wrote: post #45

Earlier quoted context omitted.

Gold. Other precious/rare metals. Property. You are speaking of collectibles, not wealth/currency.

Gold's value is other people's belief in it being worth something, so they will trade other things for it. Same with other rare metals. Property has something close to intrinsic value in that it provides shelter, but the value of property is only realizable if the social context allows it to be realized -- your claim to a house is only as good as the government's willingness to recognize that claim, and to protect it…

You are talking about a break down of society. In which values would indeed change drastically. Women of child bearing age, seeds, potable water, would instantly become precious.

I'm talking about normal ass society. These may fluctuate, but there is a reason that since the beginning of human civilization we have currencies.

Crypro is too volatile as a way to store wealth, that's why to this day the rich are hoarding gems and gold and property.

I think all of it is ridiculous personally, even the dollar is no longer backed by gold.

Point being you cant compare volatile, scammy, etc crypto to pretty much any normal value store.

IMO.

Re: Coffeezilla, a YouTuber Exposing Crypto Scams

#180

Post by bushbaba »

SemanticStrengh wrote: post #127
polygamous_bat wrote: post #64

Earlier quoted context omitted.

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.

no, terra is an algorithmic coin, the ones that are 100% backed by IRL assets are flawless

What if those assets decline in Value by 50% where assets held is 50% or less than equivalent usd value?
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