101–110 of 448 posts
Here's how I see it: Crypto as an investment - Not your keys, not your coin. Crypto as a currency - I can't directly buy food, water, shelter, transportation, energy, or anything fundamental with it. I know acceptance is growing, but 10+ years later, crypto still has extremely limited acceptance for daily goods and services. It is almost exclusively held as an investment.
It is a speculative vehicle.
When Crypto was young it was this cool new technology that mostly interesting because of the underlying tech. But even back then it was mostly valuable for buying drugs online and other illegal stuff. Now it's that and a way to scam people of their life savings. I do hope it dies out, it should have been heavily regulated from the get go. Way too many people saw these high production commercials with their favorite c…
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Can I still have a local crypto wallet on my hard disk that contains my bitcoins and transfer coins to it from exchanges or when people pay me?
The short answer is yes, but your question implies a fundamental misunderstanding of Bitcoin and blockchains. The coins do not exist "in your wallet" - the wallet just holds your keys that prove you own some of the coins visible to everybody on the public blockchain. If you want a really great learning aid, search for "Island of Yap Blockchain" and read any of the million articles about it.
When Crypto was young it was this cool new technology that mostly interesting because of the underlying tech. But even back then it was mostly valuable for buying drugs online and other illegal stuff. Now it's that and a way to scam people of their life savings. I do hope it dies out, it should have been heavily regulated from the get go. Way too many people saw these high production commercials with their favorite c…
Good government is a luxury many lack.
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And that's a fair point. But the problem is Crypto is an investment playground by people from rich countries and legitimate uses of it in countries like say Venezuela is an extremely small part of total transactions.
The US dollar is used for shady stuff all over the world, but we’re not trying to ban it.
Also I don't want to ban crypto. I want to crack down on these exchanges which encouraged everyone to gamble on crypto and lost a ton of people money.
When Crypto was young it was this cool new technology that mostly interesting because of the underlying tech. But even back then it was mostly valuable for buying drugs online and other illegal stuff. Now it's that and a way to scam people of their life savings. I do hope it dies out, it should have been heavily regulated from the get go. Way too many people saw these high production commercials with their favorite c…
Then bitcoin had its very first dip and it became unprofitable to mine bitcoins. When that happened he shuttered the website and kept everyone's bitcoins.
I knew of bitcoin early on due to this guy, but even then I had no interest and considered it bullshit. Then when I saw what this guy did it just solidified my opinion that it can't be trusted.
That's not to say that in theory there aren't uses for it, but it's 100% speculative and nothing else. People try to compare it to things like gold for protecting your money from inflation, but that's completely nonsensical.
If the value of gold crashes it still has an inherent value because it's a useful physical good (looking pretty is not the only application of gold). a bitcoin has ZERO inherent value. It's not possible for the value of gold to go to zero, but it's absolutely possible for the value of a bitcoin to go to zero.
crypto will never go away, but it absolutely should.
Earlier quoted context omitted.
And that's a fair point. But the problem is Crypto is an investment playground by people from rich countries and legitimate uses of it in countries like say Venezuela is an extremely small part of total transactions.
The US dollar is used for shady stuff all over the world, but we’re not trying to ban it.
That is because it is overwhelmingly used for standard non-shady stuff, like trading legal goods and services. Crypto can't make a similar claim.
When Crypto was young it was this cool new technology that mostly interesting because of the underlying tech. But even back then it was mostly valuable for buying drugs online and other illegal stuff. Now it's that and a way to scam people of their life savings. I do hope it dies out, it should have been heavily regulated from the get go. Way too many people saw these high production commercials with their favorite c…
When bitcoin first came onto the scene I personally knew a guy who was running a website to act as an exchange. It was small because bitcoin itself at that time was very small. Then bitcoin had its very first dip and it became unprofitable to mine bitcoins. When that happened he shuttered the website and kept everyone's bitcoins. I knew of bitcoin early on due to this guy, but even then I had no interest and consider…