Finally. Let us be free of crypto please.
You are free of crypto.
no one is forcing you to use it
Tell that to my arms dealer.
Except for the brain dead governments that spend our money hoarding it.
Removed by mod
Yeah. Let’s give banks all the power.
Like they don’t already have it?
Stay in school.
Stay away from lemmy, capitslist.
“you guyz are so dumb, I understand all of this stuff because I hang around on crypto subreddits listening to other wealthy scammers tell me how economics works”
Yeah, fuck banks, give all the power instead to the exchanges, governments and whales. Give up any ability to mitigate or manage global economic crises. That’s so much better.
The naivete coming from crypto bros is amusing. “Let’s turn our global economy into history’s largest pump and dump scam…as long as I’m not the one holding the bag!”
damn it peaked at 125k last time.
Every time this happens I hope it’s the final one, and so far every time I’ve been disappointed.
The crypto cult is still going hard, i am sure its gonna bounceback. Some people just hopelessly throw money at it lol
same
I think you might wanna get ready for more disappointment, say maybe two or three years from now
Bitcoin has an inbuilt mechanism to make it exponentially harder to mine. That means the labor value to mine it will keep growing and that sets an ever increasing minimum price floor on the currency.
Is this a sensible way of making a currency? Hell no. Does this mean that bitcoin invesment as an asset will continue to endure for more years? Yes.
The only thing that could feasibly crash the bitcoin market is if most bitcoin users and miners move to a more sensible crypto that is designed for transactions and not investment.
Nature is healing
these posts always make me laugh and feel good and want to check in/snoop on some past acquaintances, or at least check the obits.
Down 44% last 6MTH, i want to see triple digits please!
Yessss. Just get more ddr4 and GPUs onto the market.
finally!
Cryptocurrencies have various use cases:
- moving money from and to sanctioned countries, like Belarus, Iran, North Korea, Russia
- paying for criminal activities, like hitmen, organs, drugs
- scams
In most cases, they do more harm than good.
- This is a great and important use case. Fuck sanctions
- As yes, fuck everyone (like me) that isn’t allowed to get medicine from above board channels (this 1000 times more common than silly things like paying for hitmen or organs. If you are buying hitmen or organs on the Internet 99% of the time it is fake)
About medicine:
Most pills sold on the dark web are not genuine pharmaceuticals. Law enforcement has caught countless vendors making their own tablets with pill presses, stamping them with real drug logos, and selling them as Xanax, oxycodone, or Adderall. Some are made with raw ingredients shipped from overseas; others are mixed in makeshift labs with no quality control.
The danger is what’s inside: pills advertised as painkillers often contain fentanyl, and fake Adderall tablets have been found packed with meth. Even if a pill looks real, its contents may be wrong, too strong, or contaminated. A single counterfeit dose can be deadly.
https://www.darkowl.com/blog-content/dark-web-pharmacy-and-illegal-px-medication-sales/
most pills sold on the dark web are not genuine pharmaceuticals
This appears to be a sweeping statement that would be very hard to confirm or deny.
The danger is what’s inside
Yeah this is what you have to deal with when governments prioritise profits over the people’s health. It’s just a matter of risk management.
paying for criminal activities, like hitmen, organs, drugs
Paying for criminal activities does not necessarily only include spy movie shenanigans. Lots os banned pharmaceuticals are sold through crypto, including abortion pills and HRT hormones. I doubt we’re ever going to agree on sanctions, but hopefully we can still find a middle ground on people getting access to necessary pharmaceuticals in countries that ban them, even if it is a crime.
Though to be fair most of that is done on more stable and cheaper currencies like Montero.
Replace crypto with cash and all those things are true, and yet…
The point of crypto is to remove control of currency, so does it do that or not?
The point of crypto is it is controlled via programmed rules, depending on the type, which in theory would make it more fair if coded properly.
You’re talking about programming control, I’m taking about macroeconomic control. Switching to crypto removes many of the levers of macroeconomic control, or it shifts the control over to exchanges, mediators (courts), miners, validators, whales, and - probably not what crypto boosters want to hear - governments, who remain the power brokers and can easily assume these roles. Moreover, if crypto boosters think banks won’t use their enormous capital, power and overall economics expertise to shift into one of these roles, they’re delusional. I feel like crypto boosters think that banks just “don’t get it”, and this is ludicrous…banks have hundreds of years of institutional economic knowledge and experience. Economics doesn’t just get invalidated by crypto.
All of this ignores the fact that crypto is highly susceptible to volatility and scamming overall. Crypto has a larger more complex attack surface at the application layer, and this makes it substantially more risky particularly as malicious technology advances in that domain and can quickly outpace the technology required to secure against it.
Look I don’t have time to point by point give my takes, however I find it very funny when volatility and scamming are brought up as if that’s not rampant in literally every economic system.
I also don’t see how a transparent ledger with programming to ensure payments complete as expected is more risky then the opaque banking system also running nearly entirely online just behind closed doors in banks is any better.
Haven’t we already learned security through obscurity is not actually security?
I will say, the corporate/banking takeover of BTC happened over a decade ago now, so agree with you there, which is why it’s now “digital gold” instead of its original stated intent of digital cash.
