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"Every day I write something about crypto to the nature of “crypto is all a scam”" Yet he still write daily about Crypto. Very weird. Whoever wanted to be convinced that is a scam should be convinced by now, everyone else just want to hold some coins.
> scam /skæm/ (noun): a clever and dishonest plan for making money This fits many projects in the cryptocurrency space. But what about the first successful cryptocurrency Bitcoin? Was it dishonest? What about Ethereum, is it also dishonest? Seems like yes, there are lots of scams in cryptocurrency. But there is also projects that are not, so in the end, the title ends up being clickbait, which I (just like you) fell…
> Bitcoin? Was it dishonest? Bitcoin per se , no. Bitcoin as practiced, yes. Broadly brushed, there are legitimate academic questions in crypto/blockchains/web3. The moment the work is remunerated for something other than its intellectual value, however, it's fair to revoke the benefit of doubt.
I'm sorry, I don't understand what you mean with "Bitcoin as practiced". "Bitcoin as practiced" made Bitcoin into a scam while it wasn't one before "it was practiced"?
Crypto absolutely has value, and the price of Bitcoin will never go to zero. NFTs are useful. That's because the value these things provide is money-laundering, bypassing of international financial regulations and tax fraud. Yeah that's a superb value proposition right there, and definitely something we want to keep free and available /s The current system is flawed in many, many ways, but none of it happened arbitra…
Crypto absolutely has value, and the price of Bitcoin will never go to zero. NFTs are useful. That's because the value these things provide is money-laundering, bypassing of international financial regulations and tax fraud. Yeah that's a superb value proposition right there, and definitely something we want to keep free and available /s The current system is flawed in many, many ways, but none of it happened arbitra…
I can understand the appeal, but I do find it amusing how we (humans) instantly abuse anything if modicum of abuse is possible :)
I'd like to remind the readers that some people use crypto as a payment method and do not speculate. As far as I know there is no alternative with the same level of convinience that crypto provide (KYC-less and fast payments to anyone in the world with just one secret). Remember that next time you suggest something among the lines of "crypto should be made illegal".
Nothing I do is illegal; I pay my taxes; sometimes I make mistakes. Why would I ever want to use crypto over real money?
I'd like to remind the readers that some people use crypto as a payment method and do not speculate. As far as I know there is no alternative with the same level of convinience that crypto provide (KYC-less and fast payments to anyone in the world with just one secret). Remember that next time you suggest something among the lines of "crypto should be made illegal".
Saying that cryptocurrency should be made illegal is a stupid idea, of course. However, cryptocurrency miners should have to declare their activities and pay much higher electricity prices, so that we could actually use that electricity for more useful things.
EDIT: because the argument of "how is this different than the dollar hurr durr": it's not! The dollar has value because people trust the US government to keep existing, because I can exchange it for actual goods and people want it. The primary goal of the USD isn't to speculate, it's to exchange goods. The same cannot be said about your favorite shitcoin.
Crypto absolutely has value, and the price of Bitcoin will never go to zero. NFTs are useful. That's because the value these things provide is money-laundering, bypassing of international financial regulations and tax fraud. Yeah that's a superb value proposition right there, and definitely something we want to keep free and available /s The current system is flawed in many, many ways, but none of it happened arbitra…
Earlier quoted context omitted.
> Bitcoin? Was it dishonest? Bitcoin per se , no. Bitcoin as practiced, yes. Broadly brushed, there are legitimate academic questions in crypto/blockchains/web3. The moment the work is remunerated for something other than its intellectual value, however, it's fair to revoke the benefit of doubt.
> Bitcoin per se, no. Bitcoin as practiced, yes. I'm sorry, I don't understand what you mean with "Bitcoin as practiced". "Bitcoin as practiced" made Bitcoin into a scam while it wasn't one before "it was practiced"?
The paper and concept are fine. People marketing Bitcoin as an investment, et cetera, or more broadly selling anything related to it, are enabling a scam.