I’m sorry but that’s not how shitcrypto works. Pump & dump cycle is exactly how it’s 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.
It’s like a brilliant philosopher once said: "Tide goes in, tide goes out. Never a miscommunication. You can’t explain that. You can’t explain why the tide goes in.”
First, I don’t think we should be cheering on the state doing anything to limit working people’s ability to do anything. And if we were to cheer them on rich people, well good luck. They won’t.
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 wouldn’t 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 don’t 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 you’re 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.
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Points in simpsons Ha ha
A virtual untraceable economy in a corrupt capitalist system. What can go wrong?
https://www.history.com/news/tulip-mania-financial-crash-holland
I hope this is the end of this cult.
Susan’s probably malding.
i don’t know whether to laugh or cry at this. at least they’re finally dead, but only because Elon said so? that’s sad. but also funny
I’m sorry but that’s not how shitcrypto works. Pump & dump cycle is exactly how it’s 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.
It’s like a brilliant philosopher once said: "Tide goes in, tide goes out. Never a miscommunication. You can’t explain that. You can’t explain why the tide goes in.”
Open the fridge, light turns on. Close the fridge, light turns off. Can’t explain that.
Was so weird how much mainstream hype those things got
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Apparently there’s a serious theory that it’s a front for money laundering.
It’s basically a grift and the masses are finally figuring this out.
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 aren’t illegal. They should be, but rich pricks benefit from it.
First, I don’t think we should be cheering on the state doing anything to limit working people’s ability to do anything. And if we were to cheer them on rich people, well good luck. They won’t.
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 wouldn’t 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 that’s not a hill you’re willing to die on, you’re literally advocating for the decriminalization of, say, assassins for hire.
Assassins for hire already don’t care about the law. It is ridiculous to hold hostage people’s fights for privacy over this.
I don’t 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.
I do agree about NFTs. I don’t see the use case. Ethereum, Bitcoin, Monero, however, are used for good purposes.
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 you’re 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 it’s from China, which means it’s good on Lemmy.ml.
Finaly
Techbro beanie babies
You literately aren’t wrong about that one