651–660 of 1001 posts
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Check out how $100 put in bank deposits or S&P500 have done versus gold over the last 50 years. You will find that these do not generate real returns when measured against sound currency either.
$100 put into S&P 500 in 1975 would be about $7500 today, or about $1250 in 1975 dollars. $100 put into gold in 1975 would be about $2600 today, or about $440 in 1975 dollars. S&P 500 would have had 3x the returns of gold.
I worked at a crypto exchange and after I came to the conclusion that 99% of crypto was scams and rugpulls, I sold all my crypto and vowed to have nothing to do with it. It's more of a religion than a financial instrument and absolutely nothing has shown to me that crypto is anything more than a speculative gamble, basically tulips with the religious promise of a better world. The number of employees that lost money…
100%. It's similar to AI... the only people trying to tell you "it's the future" are those with financial stakes.
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My advice is always: Just hodl some bitcoin, but not in amounts that make you cry when you loose it. It's been better for me so far than normal savings accounts.
My advice is always: invest in the assets I hold, and never sell. It really makes the value of my holdings rise.
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No; the argument is much closer to "if you don't make cryptocurrency basically the same as fiat, by building the same systems on top of it, it's useless to the vast majority of people ."
That is just an observation, not an argument against building, improving, and using crypto. Cryptocurrency doesn't need to do everything for everyone at all times to be a useful thing to have in the world. It only needs to be helpful to a subset of people, in a subset of situations, some of the time. I'm happy paying by card for ~100% of my daily transactions, but I want cryptocurrency to exist should the need arise.…
Instead, you give criminals a tool for crime. And gamblers a new casino.
I've always been a bit of a fan of Adam Curtis' documentary style, and "All Watched Over by Machines of Loving Grace" (named after the Brautigan poem) is worth watching. I'm not sure how much of his narrative of Rand is accurate, but it's well presented:
The US crypto lobby has already raised over 240 million for the 2026 election. It’s a cancer attacking our society’s institutions.
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Your argument here appears to be "crypto is no better than fiat, because you can build the same systems on top of them." What you put on top is not the core value proposition of cryptocurrencies? It's what's underneath that's different, that was always the point. Fiat currency is built on a foundation of gov't control, whether it's the physical currency or the money in your bank account. Cryptocurrencies, fundamental…
The financial system being under government control is the only proposition consistent with reality. We, the people, make the rules. Replacing our democratic processes with finance controlled by the one with the most computing power, control of the software, or having horded the most of the tokens, is in no way desirable or realistic. Even if the proposition wasn't borderline idiotic in the first place, there is no c…
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India banned crypto. It never even traded using crypto. By the way a country of billion plus should have freedom to do trade in whatever way they like
And other countries have freedom to scoff at that or even sanction trade with it (gasp, the horror!). Freedom works both ways, you know. A fitting quote for the moment: "Pacifism is objectively pro-fascist. This is elementary common sense. If you hamper the war effort of one side, you automatically help out that of the other." (c) George Orwell Also regarding India and tokens, sure they are officially banned. But the…
The original promise of crypto was lost a LONG time ago. Instead of being a true rival to FIAT, it became a thing with a toxic-as-hell commumity, fraud, and basically its nothing more than a high risk stock. The risk is NOT only "will this go up or down" but you have a high risk of being robbed, as have happened to millions of people. Maybe there will be a better alternative in the future, but right now bitcoin is no…
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> why spend when you can HODL You touch upon an important point: the entire foundation of our current economic system is built on high velocity of money. You are incentivized to spend rather than hold because without it, there's no mindless conspicuous consumption. A deflationary currency will grind this system to a halt But the question you need to ask is: has all this mindless consumption really done us any real go…
Lol. All you have to do is think about five seconds without going into rants about over consumption. Let's take Bitcoin. It has a predefined limited supply. That is, it already has an artificial deficit built-in. On top of that, obtaining bitcoin becomes exponentially more expensive over time (until it becomes impossible once all the bitcoin has been "mined"). Now you have to spend many magnitudes more resources to o…
(ofc thats not the 100% correct description of bitcoin which depreciated against most other assets ytd but the idea still stands)