WaPo gift article - no paywall
Makes sense, considering cryptobros seem to want “get rich easy” and the orange dumpster fire certainly panders to that demographic.
I feel sad for a lot of people in crypto. There’s a certain sense or feeling of disenfranchisement among the American people, which is how people like Trump gain favor in society. Trump promises you everything and lies about all he takes away. He’s seen after all as some “alternative to the establishment”, an establishment that has exploited and fucked over the people over and over again. In a sense, this disenfanchisement, economic disenfranchisement affects people into crypto. Never underestimate the power that poverty and economic hardship has in making desperate people delusional.
Trump is a rich old white racist man with no talent who made money off daddy’s fortune.
He’s the embodiment of the establishment. This makes sense since that’s what they want to go back to.
They forget that’s what led them here.
You feel sad for people who realise it is way better to be in control of their own wealth and not hold their value in something that other people can just print on a whim? You feel bad for people who don’t want the only way to hold onto value (that doesn’t inflate away) to be buying businesses or expensive real estate which the average person can’t dream of affording? What a peculiar reason to feel sad for a group of people.
I feel bad for people who know nothing about a topic and trick themselves into thinking they are such an expert that they are forced to pity people who have turned an idea into the 9th largest asset in the history of the world without any centralized governance.
Don’t get me wrong, if they actually researched and were educated in the subject, I’d have no issue with people taking a risk in investing in something like crypto, but the fact remains many Americans are ill suited and uneducated when it comes to finance, investing, and technology. Plenty of people have played and deal in a manner that is similar to speculation and or gambling when it comes to crypto, buy in, and are equally fucked because of it. Not too mention the various influencers who take advantage of their audience and really fuck them over in pump and dump schemes.
Yeah, I guess I see a massive difference between Bitcoin and crypto as a group. Lots of crypto is scam, but Bitcoin isn’t. Bitcoin is solid technology that finally gives people freedom to be in control of their own store of value. Crypto largely came along to leech off of this revolutionary idea.
Ehhhh I’m more on the Monero train. Though I don’t own any of it. Just like the tech and privacy of it.
Monero does have some nice aspects. Lightning takes care of some of it on BTC, although not entirely. I wouldn’t be too surprised to see even more in that direction on layer 2.
And crypto bros spent the last decade hoarding bitcoin as a means to decentralize the currency, only to shill for next coming of Nazi dictatorship
Cognitive dissonance is strong among cryptofascists
That’s not what cryptofascist meannnnnnsssss
On the other hand, the old kind stopped hiding and just became regular fascists.
Confirming that Bitcoin is a scam.
Dunning Kruger effect is big in this one.
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much of crypto is a scam…bitcoin is not. blackrock and fidelity are just two companies who are heavily invested in its success. the media shouldn’t portray bitcoin along with other crypto, but it does. it’s too bad.
Sorry, Bitcoin is a scam. Blockchain technology is not a scam, but 99% are simply because they have little to no utility; their value is entirely speculative. Bitcoin is not anonymous, transactions take forever, are more expensive than banks (for transferring normal sums of money), and the energy required to secure the network is a non-starter. It’s like calling a Model-T the best car ever made. Monero is the best cryptocurrency implementation so far, because it is the opposite of all of Bitcoin’s failures I just listed — that’s why governments around the world are trying to delist and outlaw it, and block institutional investment in it.
Things aren’t scams just because they aren’t efficient or really good.
- it’s pseudo anonymous and that doesn’t make it a scam. it actually is a great way to track transactions and protect privacy at the same time.
2.transactions take about 8-10 mins… this makes it a better store of value than spending cash. However, this has been remedied with a 2nd layer application called Lightning Network. And again, this doesnt make it a scam.
- more expensive for some, less for others. for instance, it is a very cheap way to transfer money overseas like for many immigrants who support their families in their native country. where Western Union would take a large cut just to move the money, Bitcoin accomplishes the same exact thing, for pennies.
Maybe you mean you just don’t like Bitcoin? That’s fair, doesn’t make it a scam. Maybe you prefer more anonymous cryptos like monero? That’s fair also, still doesn’t make Bitcoin a scam.
Personally I prefer Bitcoin because it’s decentralized. Nobody owns it or controls it. The people closest to the money printer don’t have an advantage over the common people who save in it. Not to mention you aren’t surrendering your purchasing power to the government via inflation.
You missed the biggest points, it has no utility and its value is entirely speculative.
Secure time stamps
It’s not “decentralized.” That’s a buzzword. Anyone buying into that after all these years is a fool.
except it actually is decentralized. anybody can run a node and contribute and the network adjusts to how many people are contributing.
calling it a “buzzword” and calling people “fools” or whatever doesn’t change this fact.
When it comes to privacy and anonymity Monero would be king. The FBI and NSA has demonstrated that Bitcoin is not as “private” as many claims.
agreed. if you want to keep your dealings completely anonymous, definitely go with monero.
He can’t even pander all that well. When he spoke to them, he ended his speech with this
“Have a good time with your bitcoin and your crypto and everything else that you’re playing with”
If you ever needed more proof that all crypto is a scam…Trump is pushing it, so…scam.
…But bitcoin is doing just fine as it is…? It’s up overall, year over year. The only thing that’s not great about it right now is that exchanges (like Coinbase and Circle) have to report how much you have and move around, for tax purposes.
I’ve got a relatively small amount of bitcoin that I’m holding on to; it’s been holding value, relative to the US dollar. So what are they saying *isn’t" great…?
Bitcoin gets thrown in with the other cryptos. people who don’t know what they’re talking about also do this thanks to the media. Bitcoin is most definitely not a scam.
Needs more ellipses and statements ending with a question mark.
…it does?
Cryptocurrency scams, Trump scams… They belong together.
Can’t wait for them to lose all their money
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This is all Dems signing this. It’s not only Republicans who are finally realizing the value of sound money. At this point, if you are anti-crypto, you need to somehow be against the only two political parties, who would have guessed. Not to mention RFK saying if he were in the White House, then the US would be trying to amass 20% of the Bitcoin supply.
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Montero also has a public immutable ledger, is subject to market price manipulation by whales, and mining is easily centralized if it becomes prevalent.
if you like crypto, Bitcoin is best, or maybe doge coin, but I think doge coin needs another round of heavy inflation
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this is not a rebuttal, but an appeal to ridicule
