51–60 of 268 posts
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If regular banks would fail with the same rate Crypto venues fail, then you might have a point.
Early banks failed all the time. Give it another decade or so for regulation to start mandating accountability.
We have. We learned to ban what crypto does and put people promoting it in jail.
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I don’t think that is true at all. There is economic value in a piece of equity in google. The price someone is willing to pay for it changes frequently. Crypto is closer to art than anything else. I get less value from a rothko than someone else may
> There is economic value in a piece of equity in google. It doesn't entitle you to profits, it doesn't entitle you to assets (except in bankruptcy), you can't eat it, and it's only worth what other people will pay you for it. Unlike a rothko, I can't hang it in my living room. Where's the value?
This is a terrible argument, and clickbait. Obvious enough to anyone who actually understands how bitcoin, or eth work, it does not fit the definition of a ponzi scheme. Most tech stocks fit the definition better. Just because a few centralized banks, (FTX, centralized crypto exchanges are banks) have failed, means nothing, since the original idea of cryptocurrency was to do away with centralized institutions like th…
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Relevant Warren Buffet commentary on crypto: https://www.youtube.com/watch?v=HVm7Pfb0ilY
I'm not sure he is able to understand blockchain concepts like proof of work etc.
This is a terrible argument, and clickbait. Obvious enough to anyone who actually understands how bitcoin, or eth work, it does not fit the definition of a ponzi scheme. Most tech stocks fit the definition better. Just because a few centralized banks, (FTX, centralized crypto exchanges are banks) have failed, means nothing, since the original idea of cryptocurrency was to do away with centralized institutions like th…
Classic crypto-enthusiast denial. Your dreamt of, decentralized system that was imagined by Satoshi is gone. It will either never exist anymore and be gangrened by said centralized exchanges (which are the only things that are artificially prop up the value of your coins), or it will go back to the days where you can pay 10 000 BTC for a pizza because someone decided it would be fun. ETH would be worthless without ex…
What do you mean? There are tons of decentralized exchanges I can use to acquire cryptocurrency to buy drugs with.
Earlier quoted context omitted.
If regular banks would fail with the same rate Crypto venues fail, then you might have a point.
Early banks failed all the time. Give it another decade or so for regulation to start mandating accountability.
This is a terrible argument, and clickbait. Obvious enough to anyone who actually understands how bitcoin, or eth work, it does not fit the definition of a ponzi scheme. Most tech stocks fit the definition better. Just because a few centralized banks, (FTX, centralized crypto exchanges are banks) have failed, means nothing, since the original idea of cryptocurrency was to do away with centralized institutions like th…
Classic crypto-enthusiast denial. Your dreamt of, decentralized system that was imagined by Satoshi is gone. It will either never exist anymore and be gangrened by said centralized exchanges (which are the only things that are artificially prop up the value of your coins), or it will go back to the days where you can pay 10 000 BTC for a pizza because someone decided it would be fun. ETH would be worthless without ex…
the best I can tell is that you are saying that centralized institutions having extremely large influence is necessary? in which case I would disagree
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Either this is sarcasm or you don’t understand where the money you ‘made’ came from.
at the end of the day it all comes from the same place, web3 just democratizes the path there are a small amout of scams that are overblown by people trying to control the narrative which won't work because the blockchains are decenteralized and free for all to investigate
To scamming people. Early guys will be fine. But I’d say the odds are good that any gains from here out will be subject to clawback in most competent jurisdictions.