Decent debate about the utilitylessness of most cryptos
- Thread starter Pekelo
- Start date
Well yeah. That's what the market & the people want. Ponzinomics games to try to get rich.
How is it different from the equity markets, where blatant frauds like Nikola & WeWork still continue to be traded and somehow valued with some idiotic rationalization?
Are there projects in crypto that actually aim & try to develop real value add utility via actual sound business practices. Absolutely. Do they get any traction? No. It's not what the market & the masses want.
How is it different from the equity markets, where blatant frauds like Nikola & WeWork still continue to be traded and somehow valued with some idiotic rationalization?
Are there projects in crypto that actually aim & try to develop real value add utility via actual sound business practices. Absolutely. Do they get any traction? No. It's not what the market & the masses want.
Crypto browser. What a joke. The last thing I want is connect my wallet to an internet app. The utility is absolutely negative. Like a lot of times a lot of empty talk but when the utility is discussed hardly any convincing argument is brought forward.
How it is different? Easy to answer. No difference. Both, shenanigans in the equity markets and cryptos are net zero utility. They pull money out of the pockets of stupid people and line the pockets of fraudsters and snake oil salesmen. Just a transfer of wealth.
- What is BTC good for other than speculating with?
- If it wasn't so volatile it would be useless.
3 years before general retirement age in Europe. Congrats you made it. At least Tesla makes some real products that have utility. I don't know how this comparison could ever stand on its own feet. One does not provide any real utility the other does. False equivalency.
Crypto is to currencies...what penny stocks are to equities
I admit I don't know much about crypto, but I have some observations and a few questions. And I want Y'all to correct me if these "observations" are not correct, and, maybe if you can, answer my questions:
1) Seems the original idea was to use crypto to facilitate commerce below the radar, so to speak. Kinda like deal'n in cash and having any government reporting obligations conveniently slip your mind.
2) But did the increasing cost of "mining" new "coins" cause the value of the coins to increase? Did that attract investor types and increase demand? And did that, in turn, attract the trader types and cause the volatility that makes crypto useful for gambler sorts -- more politely said: "speculators"?
3) Now, it seems to me, that other than for transactions flying below radar, crypto is kinda useless for its originally intended purpose, i.e. darkfield commerce. I mean how are you going to buy and sell goods or services using a "currency" that fluctuates wildly in buying power from one moment to the next? (Or is that what "stablecoins" are really about?)
1) Seems the original idea was to use crypto to facilitate commerce below the radar, so to speak. Kinda like deal'n in cash and having any government reporting obligations conveniently slip your mind.
2) But did the increasing cost of "mining" new "coins" cause the value of the coins to increase? Did that attract investor types and increase demand? And did that, in turn, attract the trader types and cause the volatility that makes crypto useful for gambler sorts -- more politely said: "speculators"?
3) Now, it seems to me, that other than for transactions flying below radar, crypto is kinda useless for its originally intended purpose, i.e. darkfield commerce. I mean how are you going to buy and sell goods or services using a "currency" that fluctuates wildly in buying power from one moment to the next? (Or is that what "stablecoins" are really about?)
None of the crypto stablecoins, nor bitcoin actually provide any privacy. Yes there is lightning network, etc, but those are terrible for privacy.
I have no idea why someone hasn't put Monero-style privacy on top of a stablecoin. I'd buy that one.