81–90 of 126 posts
Why do people use Tether scamcoin over Gemini stablecoin GUSD? It's supposedly backed 1:1 GUSD:USD and has US-regulated books. I get 5-8% interest on it and hasn't had an issue for its handful of years of being issued.
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8% of every dollar in your pocket a year ago no longer exists.
If you have 100,000 BTC and it goes down to 0, you still have 100,000 btc.
(Keep in mind that BTC at a low enough valuation is either unmineable and thus can’t be transacted or is mineable for very little money and thus subject to 51% attacks by anyone who is inspired to do so.)
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8% of every dollar in your pocket a year ago no longer exists.
Military still there tho. Edit: happy Veterans Day (USA) to those who served.
Many countries had a military and that didn't stop their currencies from completely collapsing.
It's depressing to me that there is such a vocal group of people cheerleading the demise of an industry that seeks to improve the financial system on a global scale. Truly disheartening are the financially disenfranchised (and what I believe) young voices for whom any system would be better than the current. It's to the extent that many think that attacking capitalism itself is the answer. There is an incredible amou…
>It's depressing to me that there is such a vocal group of people cheerleading the demise of an industry that seeks to improve the financial system on a global scale. This kind of feels like a disingenuous description of what's happening, as though it's willfully ignorant of what's clearly being discussed here. People are cheerleading the demise of the snake oil and grifting that is insanely prevalent in a new, unreg…
Oh, I am. I was taking issue with the ubiquitous shortsighted comments accompanying crypto threads that want to see crypto fail at every cost.
To your point, I don't necessarily want "crypto" to succeed, but innovation that is best for everyone. The financial system is certainly ripe for renewal and could be gutted. I'm not a fan of DeFi. While I might have missed something there as there is a lot of work being done, what I've seen simply reinvents the ongoing financialization of everything.
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Or coal power plants or something, since crypto energy consumption is massive
Miners are literally buying fossil fuel generation plants to make enough power to mine. It's a direct link to global harm.
It's depressing to me that there is such a vocal group of people cheerleading the demise of an industry that seeks to improve the financial system on a global scale. Truly disheartening are the financially disenfranchised (and what I believe) young voices for whom any system would be better than the current. It's to the extent that many think that attacking capitalism itself is the answer. There is an incredible amou…
The issue is that we don't believe the crypto industry seeks to improve the financial system, on any scale. It's not just that so many of them have turned out to be scammers — it's that the industry as a whole has not put in any work to prevent that, and often has actively worked to prevent any sort of guardrails .
It's not clear to me how open source projects like a bitcoin might prevent scammers from cloning the source and opening a discord channel to people leading to an eventual rugpull. The success of bitcoin has led many to think that duplicating network effects is the path to easy riches. I guess they are not wrong.
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If you have 100,000 BTC and it goes down to 0, you still have 100,000 btc.
What’s the bitcoin ecosystem worth as a collectible? (Keep in mind that BTC at a low enough valuation is either unmineable and thus can’t be transacted or is mineable for very little money and thus subject to 51% attacks by anyone who is inspired to do so.)
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Miners are literally buying fossil fuel generation plants to make enough power to mine. It's a direct link to global harm.
If that's the case, we should definitely ban fossil fuel generation plants. Or at least, tax them heavily. Since they're the ones actually doing the "global harm".
You can see how this is very different from using the energy simply to operate an online gambling operation or to perpetrate large scale securities fraud.
This will be the true extinction level event for this era of crypto. I now fully expect it to happen on this bear cycle. It will be interesting to watch - potentially the FTX investigation coming off the bankruptcy will set loose enough threads we will learn the truth.
its a ballast system, as the "marketcaps" crater, it takes much less activity to move them. so it doesn't matter that many people won't show up anymore, once they see their neighbor that's dumber than them getting richer than them - again - they'll come right back and primarily use new products with new tokens
none of the top players/tokens involved existed before this cycle, or were created during the last crypto winter
none of the top players/tokens from the prior bull cycle recovered to be the top ones this cycle
I expect the same to continue, I don't really see anything to the contrary
It's depressing to me that there is such a vocal group of people cheerleading the demise of an industry that seeks to improve the financial system on a global scale. Truly disheartening are the financially disenfranchised (and what I believe) young voices for whom any system would be better than the current. It's to the extent that many think that attacking capitalism itself is the answer. There is an incredible amou…
> It's depressing to me that there is such a vocal group of people cheerleading the demise of an industry that seeks to improve the financial system on a global scale. Truly disheartening are the financially disenfranchised (and what I believe) young voices for whom any system would be better than the current. Look at it this way: the scammers are not doing that, at all. In fact, they are making it less likely that a…