I hope it crashes straight to zero, along with every other crypto currency, NFT, chia, and whatever other “idle your car engine to solve sudoku puzzles you can trade for drugs” bollocks is floating around.
Between this and AI we’re wasting so, so many resources and killing the planet for nothing.
When I was a kid there was a cartoon called Captain Planet.
The bad guys would build these factories that didn’t seem to produce anything but pollution. Like, they would take in trees and sea creatures or whatever, and the only thing that would come out is smog and green water. It was very on-the-nose.
It allows sending value anywhere anytime and it protects you against inflation, because it can’t be debased. You can also move large quantities of money without needing permission from anyone, anytime you want.
On the other hand, fiat money creates inflation and is controlled by central banks.
Well it being a criminal money is a plus, a main feature even. I got some from GPU mining ages ago so was selling them at its peak and it’s easily noticable how all the legal way to get money is all so traced and requires you to send your ID, sold them by dealing with buyers directly so no ID required instead.
So then why are the only people ising Bitcoin to move large amounts of money scammers and criminals? It’s a hassel to move large amounts of money from one country to another because the stakes are so high and everyone involved wants to make sure it is done properly. You wouldn’t send the down payment for a house or car via cash in the mail, so why would you do the online equivalent?
You can use Bitcoin to buy food and small things as well. No, actually scammers and criminals are among the minority of people that use Bitcoin. Many people use Bitcoin for their daily needs.
It’s a hassel to move large amounts of money from one country to another because the stakes are so high and everyone involved wants to make sure it is done properly.
Stakes are high? I don’t think so. The problem is politicians, the hundreds of worthless currencies that exists and the expensive banking cartel with its high fees. People should have the freedom to move their money as they wish, because it’s their money.
Well it isn’t protected from rapid deflation. In fact that seems like the point according to all the advertisements presenting it as an “investment”. Also, I’m not sure who needs to move large quantities of money across the globe. I just want to exchange money for his it services.
Bitcoin is deflationary by design, but that’s an advantage, not a problem. It’s like saying that gold is bad, because it’s worth more and more every year.
all the advertisements presenting it as an “investment”
It has been one of the best returning investments since its birth. Even Black Rock and many other companies consider it as a great investment.
Also, I’m not sure who needs to move large quantities of money across the globe. I just want to exchange money for his it services.
Believe it or not, there are rich people who need to move large quantities of money to buy houses, to buy land, etc. You can also buy small things with Bitcoin, of course.
I don’t think they “need” that. I think they like that. I also think they are frequently monsters and making things cushier for them doesn’t translate to as better off a life for the rest of us as we would like to think. In fact them being able to move money quick to buy houses and land quickly… Seems like it may drive it up for the rest of us
I use the creation of bitcoin to mark the end of the idea of the internet community.
Before bitcoin, there were scams and trolling but most of the people were there to enjoy themselves. Maybe you’d learn something, and maybe just kill some time.
As someone who was interested in Bitcoin at its very beginning (sometimes I wonder what kind of arsehole I would be now if I hadn’t lost my wallet back then long before the stuff was worth anything) - it took quite some time from its inception to cryptobros being a cultural phenomenon everywhere on the net. So the creation itself may be a bit too early.
It won’t crash to zero as long as there is a computer mining that supports the network. Normies that talk about the environmental impacts of cryptocurrencies don’t understand.
How many wars were created over fiat currencies and the power plays of politicians and central bankers?
Fiat currencies are inflationary, so they encourage economic growth (at what cost? At whose expense?). That inflation also attenuates the indebtedness of states, it is like an invisible tax against the poor and the financially uneducated.
There are cryptocurrencies that are trash, that don’t provide privacy, etc., but you can’t tar everything with the same brush. Moreover, the environmental impact is minimal compared to fiat currencies. There are cryptocurrencies that pollute more than others, of course. For those who care more about the environment, there are cryptocurrencies that do not use proof-of-work algorithms.
prob won’t happen considering relatively wealthy americans and europeans just dump all their money into it. quite literally the biggest ponzi scheme in history.
State currencies aren’t torching the rain forest for speculation and gambling. There are plenty of criticisms you can make about the Federal Reserve and the ECB, but resources they use facilites trade between over a billion people for food, housing, clothing, and critical infrastructure. Meanwhile Bitcoin uses the same amount of energy as Australia or the Netherlands to accomplish nothing more than scams and market speculation. That’s why even El Salvador’s authoritarian tech bro president abandoned it as a currency this year.
People used currencies before the existence of central banks. They used gold, silver, etc. We don’t need central banks, they are a cancer that create inequalities and inflation. The fact that securing a decentralized proof-of-work network requires energy doesn’t mean that it’s a waste. You can also buy food, housing and clothing with cryptocurrencies.
El Salvador keeps buying more Bitcoin and lots of people keep using it as a currency there.
an expanded explanation of your first paragraph would have been useful for general discussion.
your el salvador paragraph absolutely killed the mojo.
December, 2024, El Salvador, in an agreement for a $1.4 billion loan from the IMF, agreed to reduce bitcoin purchases, removed the mandatory acceptance of Bitcoin requirement on merchants, will no longer accept tax payments with the asset, and will wind-down its involvement in the Chivo wallet.
Based on the available data from the Instituto Universitario de Opinión Pública (Iudop) of the Universidad Centroamericana José Simeón Cañas (UCA), here is the percentage of Salvadorans who reported using Bitcoin for transactions from 2021 to 2024: 2021: 25.7%, 2022: 21%, 2023: 12%, 2024: 8.1%.
el salvador was always going to be an example of the very worst tendencies of hard-currency (anti-inflationary, proof of work, etc) crypto, specifically because the very worst of the cryptobro “community” was involved in it.
as of now, some of the worst people on earth are the face of cryptocurrency. major “L”, even for the arguably useful chains.
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I hope it crashes straight to zero, along with every other crypto currency, NFT, chia, and whatever other “idle your car engine to solve sudoku puzzles you can trade for drugs” bollocks is floating around.
Between this and AI we’re wasting so, so many resources and killing the planet for nothing.
When I was a kid there was a cartoon called Captain Planet.
The bad guys would build these factories that didn’t seem to produce anything but pollution. Like, they would take in trees and sea creatures or whatever, and the only thing that would come out is smog and green water. It was very on-the-nose.
Bitcoin is a pollution factory.
Looten Plunder is President of the United States.
Nah. Fearless Leader & Boris Badanov.
It allows sending value anywhere anytime and it protects you against inflation, because it can’t be debased. You can also move large quantities of money without needing permission from anyone, anytime you want.
On the other hand, fiat money creates inflation and is controlled by central banks.
So on top of pollution it enables crime? Great
Well it being a criminal money is a plus, a main feature even. I got some from GPU mining ages ago so was selling them at its peak and it’s easily noticable how all the legal way to get money is all so traced and requires you to send your ID, sold them by dealing with buyers directly so no ID required instead.
What do you think state currency does? Petrol-dollars? Are these planting trees and spreading world peace?
So then why are the only people ising Bitcoin to move large amounts of money scammers and criminals? It’s a hassel to move large amounts of money from one country to another because the stakes are so high and everyone involved wants to make sure it is done properly. You wouldn’t send the down payment for a house or car via cash in the mail, so why would you do the online equivalent?
You can use Bitcoin to buy food and small things as well. No, actually scammers and criminals are among the minority of people that use Bitcoin. Many people use Bitcoin for their daily needs.
Stakes are high? I don’t think so. The problem is politicians, the hundreds of worthless currencies that exists and the expensive banking cartel with its high fees. People should have the freedom to move their money as they wish, because it’s their money.
You can actually buy houses using Bitcoin, I don’t understand why you wouldn’t do that.
Well it isn’t protected from rapid deflation. In fact that seems like the point according to all the advertisements presenting it as an “investment”. Also, I’m not sure who needs to move large quantities of money across the globe. I just want to exchange money for his it services.
Bitcoin is deflationary by design, but that’s an advantage, not a problem. It’s like saying that gold is bad, because it’s worth more and more every year.
It has been one of the best returning investments since its birth. Even Black Rock and many other companies consider it as a great investment.
Believe it or not, there are rich people who need to move large quantities of money to buy houses, to buy land, etc. You can also buy small things with Bitcoin, of course.
I don’t think they “need” that. I think they like that. I also think they are frequently monsters and making things cushier for them doesn’t translate to as better off a life for the rest of us as we would like to think. In fact them being able to move money quick to buy houses and land quickly… Seems like it may drive it up for the rest of us
It’s a giant ponzi scheme currently propped up Tether printing imaginary money.
I use the creation of bitcoin to mark the end of the idea of the internet community.
Before bitcoin, there were scams and trolling but most of the people were there to enjoy themselves. Maybe you’d learn something, and maybe just kill some time.
As someone who was interested in Bitcoin at its very beginning (sometimes I wonder what kind of arsehole I would be now if I hadn’t lost my wallet back then long before the stuff was worth anything) - it took quite some time from its inception to cryptobros being a cultural phenomenon everywhere on the net. So the creation itself may be a bit too early.
But I think your point is still very much valid.
There were plenty of scams before it was more just directly donating to them or buying courses with no way of being in on the scheme lol
When you stop voting for maniacs messing with our monetary sytem, we can shut the bitcoin down. Until then, hands off my sudoku.
It won’t crash to zero as long as there is a computer mining that supports the network. Normies that talk about the environmental impacts of cryptocurrencies don’t understand.
How many wars were created over fiat currencies and the power plays of politicians and central bankers?
Fiat currencies are inflationary, so they encourage economic growth (at what cost? At whose expense?). That inflation also attenuates the indebtedness of states, it is like an invisible tax against the poor and the financially uneducated.
There are cryptocurrencies that are trash, that don’t provide privacy, etc., but you can’t tar everything with the same brush. Moreover, the environmental impact is minimal compared to fiat currencies. There are cryptocurrencies that pollute more than others, of course. For those who care more about the environment, there are cryptocurrencies that do not use proof-of-work algorithms.
You’ve just used the word “normie”. Why would anyone even read the rest of the post?
I know I didn’t.
prob won’t happen considering relatively wealthy americans and europeans just dump all their money into it. quite literally the biggest ponzi scheme in history.
You feel this way about state currency too? Or just unconsciously bootlicking the competition?
https://en.wikipedia.org/wiki/Civil_religion
State currencies aren’t torching the rain forest for speculation and gambling. There are plenty of criticisms you can make about the Federal Reserve and the ECB, but resources they use facilites trade between over a billion people for food, housing, clothing, and critical infrastructure. Meanwhile Bitcoin uses the same amount of energy as Australia or the Netherlands to accomplish nothing more than scams and market speculation. That’s why even El Salvador’s authoritarian tech bro president abandoned it as a currency this year.
People used currencies before the existence of central banks. They used gold, silver, etc. We don’t need central banks, they are a cancer that create inequalities and inflation. The fact that securing a decentralized proof-of-work network requires energy doesn’t mean that it’s a waste. You can also buy food, housing and clothing with cryptocurrencies.
El Salvador keeps buying more Bitcoin and lots of people keep using it as a currency there.
an expanded explanation of your first paragraph would have been useful for general discussion.
your el salvador paragraph absolutely killed the mojo.
el salvador was always going to be an example of the very worst tendencies of hard-currency (anti-inflationary, proof of work, etc) crypto, specifically because the very worst of the cryptobro “community” was involved in it.
as of now, some of the worst people on earth are the face of cryptocurrency. major “L”, even for the arguably useful chains.
edit: bunny ears for community