Decline in interest comes as Elon Musk mocks non-fungible tokens
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Techbro beanie babies
You literately arenāt wrong about that one
Never really understood why NFTs were so popular.
Yet some people made lots of money out of NFTs.
Itās basically a grift and the masses are finally figuring this out.
Apparently thereās a serious theory that itās a front for money laundering.
Was so weird how much mainstream hype those things got
What a satire world we live in.
Cryptobro mocks other cryptostuff and cryptostuff loses value.
How is everything crypto not illegal?
Effectively the same as asking why casinos and horse race betting arenāt illegal. They should be, but rich pricks benefit from it.
First, I donāt think we should be cheering on the state doing anything to limit working peopleās ability to do anything. And if we were to cheer them on rich people, well good luck. They wonāt.
Second, while crypto has its cringe fanbase and rich users, it has also benefitted many non rich people in 1) transferring funds across borders, especially to areas cut off from the world through embargoes or other means 2) escaping state persecution and surveillance.
So I wouldnāt be so quick to judge it, imo. Palestinian resistance groups and scihub (whose founder is a Communist) both receive donations through crypto. Those are just examples.
I hope thatās not a hill youāre willing to die on, youāre literally advocating for the decriminalization of, say, assassins for hire.
Assassins for hire already donāt care about the law. It is ridiculous to hold hostage peopleās fights for privacy over this.
I donāt actually hate all Cryptos. Some, like the Chinese Digital Yuan, are pretty good. I absolutely hate NFTs though, and any crypto that was pretty clearly made to be invested, not practixally used. Which is why I said casinos.
the Digital Yuan is not a cryptocurrency, it is just a fiat currency that is useable digitally. all transactions go through the Chinese government. it provides none of the benefits the person youāre replying to mentioned, in fact it does quite the opposite by literally making it easier for the state to track and persecute you than cash or banking would.
But itās from China, which means itās good on Lemmy.ml.
I do agree about NFTs. I donāt see the use case. Ethereum, Bitcoin, Monero, however, are used for good purposes.
I hope this is the end of this cult.
i donāt know whether to laugh or cry at this. at least theyāre finally dead, but only because Elon said so? thatās sad. but also funny
Iām sorry but thatās not how shitcrypto works. Pump & dump cycle is exactly how itās designed to work.
My crystal ball says that when the price has gone down enough, Elon (et al) will suddenly like them for some new reason and lo! the price goes up.
Itās like a brilliant philosopher once said: "Tide goes in, tide goes out. Never a miscommunication. You canāt explain that. You canāt explain why the tide goes in.ā
Open the fridge, light turns on. Close the fridge, light turns off. Canāt explain that.
Points in simpsons Ha ha
https://www.history.com/news/tulip-mania-financial-crash-holland
Susanās probably malding.
Finaly
A virtual untraceable economy in a corrupt capitalist system. What can go wrong?
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