holy scheisse 22,907 Posted May 5, 2022 Share Posted May 5, 2022 gagagagaghahaha Link to post Share on other sites More sharing options...
Guest Posted May 5, 2022 Share Posted May 5, 2022 i was waiting for this Link to post Share on other sites More sharing options...
Nathan 2,079 Posted May 5, 2022 Share Posted May 5, 2022 1 hour ago, littlepotter said: “Why would you want that to disappear and ruin the lives of millions who depend on it to get their salaries and send money to family and employees abroad?” “It's like saying I wish food didn't exist just because I think McDonalds makes terrible food” Honestly, one of the funniest things I have ever read. Comparing Crypto to food (even bad food) is honestly some next level stuff. Thank you for this, honestly. Link to post Share on other sites More sharing options...
Debithius 6,056 Posted May 5, 2022 Share Posted May 5, 2022 45 minutes ago, Nathan said: Honestly, one of the funniest things I have ever read. Comparing Crypto to food (even bad food) is honestly some next level stuff. Thank you for this, honestly. You literally have no idea what you are talking about or your are intentionally ignorant. And yes the analogy he made makes sense, both money and food are needed to survive and crypto is so much more than what was explained to you but you clearly wish to act a fool. Link to post Share on other sites More sharing options...
Gagaplayer315 14,667 Posted May 5, 2022 Share Posted May 5, 2022 The Chromatica curse Link to post Share on other sites More sharing options...
littlepotter 76,610 Posted May 5, 2022 Share Posted May 5, 2022 3 hours ago, Debithius said: You literally have no idea what you are talking about or your are intentionally ignorant. And yes the analogy he made makes sense, both money and food are needed to survive and crypto is so much more than what was explained to you but you clearly wish to act a fool. Thanks, some people clearly just want to be a mean girl on the internet chaeri pls Link to post Share on other sites More sharing options...
Enigma 7,182 Posted May 5, 2022 Share Posted May 5, 2022 5 hours ago, littlepotter said: I can get paid for my job, from my employer in America to me in Asia, in a matter of minutes if not seconds, with negligible fees. As opposed to bank wire transfers that takes days if not weeks, and cost a ton of money. All thanks to crypto. Why would you want that to disappear and ruin the lives of millions who depend on it to get their salaries and send money to family and employees abroad? I don't wanna sound condescending but I feel like most people who says they wish crypto didn't exist don't really know what it's for and are referring to the meme currencies like Shiba or NFTs or all this useless stuff. It's like saying I wish food didn't exist just because I think McDonalds makes terrible food. I mean e-transfers are a thing so I don't see why crypto would be needed for that but yeah Link to post Share on other sites More sharing options...
littlepotter 76,610 Posted May 5, 2022 Share Posted May 5, 2022 1 minute ago, Enigma said: I mean e-transfers are a thing so I don't see why crypto would be needed for that but yeah Crypto is decentralized and not subject to inflation, plus e-transfers are not readily available in many countries including mine and crypto is the reason so many people were able to survive the downfall of the banking sector in my country. chaeri pls Link to post Share on other sites More sharing options...
Gov Hooka 8,008 Posted May 5, 2022 Share Posted May 5, 2022 12 hours ago, Debithius said: Didn't the same happen during the dot-com crash though? Hopefully people will use the NFT technology for things that matters once they lose interest in selling random jpg's. But it's not that surprising that it plummets during a recession. Both NFTs and Cryptocurrencies are high risk high reward at the moment and Investors will pull out from their riskiest assets. However, although it might take some time to rebuild the idea of how and what to use NFTs for while also figuring out a green energy source, the tech won't die out. Cryptocurrency is probably at the stage of what the internet was back in the 90s. The idea of cryptocurrency and actually the creation of the very first one was made in the 90s. As we fail to control our economy people will turn to alternate methods once it's polished and secure enough. Hopefully we'll see Bitcoin change to a proof of stake consensus in the future though. Just because BTC mining (proof of work) is energy intense doesn't mean that every cryptocurrency is, like proof of stake coins or proof of history coins. Proof of work coins like BTC are a minority but of course, the crypto sphere will get judged as a whole depending on what BTC does. Or we could just abolish money making schemes based on fictitious sources of capital that only actually benefit rich people... while not continuing to destroy the environment and continue funneling money into the hands of an elite minority in the interim... Link to post Share on other sites More sharing options...
Gov Hooka 8,008 Posted May 5, 2022 Share Posted May 5, 2022 1 hour ago, littlepotter said: Crypto is decentralized and not subject to inflation, plus e-transfers are not readily available in many countries including mine and crypto is the reason so many people were able to survive the downfall of the banking sector in my country. Crypto is an asset though and is subject to inflation the moment you try to redeem it for currency. It’s an extremely risky bet that not so many people have the option nor the financial safety net to make Link to post Share on other sites More sharing options...
Chromatica Island 8,517 Posted May 5, 2022 Share Posted May 5, 2022 Thank god, I hope it goes away for good! Any/All Pronouns, Genderfluid🏳⚧ Link to post Share on other sites More sharing options...
Debithius 6,056 Posted May 5, 2022 Share Posted May 5, 2022 48 minutes ago, Gov Hooka said: Or we could just abolish money making schemes based on fictitious sources of capital that only actually benefit rich people... while not continuing to destroy the environment and continue funneling money into the hands of an elite minority in the interim... It literally doesn't mean you can't improve on a concept that was never meant to be used the way it has been for the last year. You could have said the exact same thing when the internet became a thing. Corporations and the elite benefited like crazy during the dot-com era. People will exploit new technology for their own personal gain no matter what it is. It doesn't mean it's bad. Link to post Share on other sites More sharing options...
Economy 52,844 Posted May 5, 2022 Share Posted May 5, 2022 Honestly I hope higher rates put some sense back into the market so investments start being allocated into something productive again The last few years money is being poured into nothing but purely speculative things. It's not even investing, it's pure outright gambling Link to post Share on other sites More sharing options...
Debithius 6,056 Posted May 5, 2022 Share Posted May 5, 2022 10 minutes ago, Economy said: Honestly I hope higher rates put some sense back into the market so investments start being allocated into something productive again The last few years money is being poured into nothing but purely speculative things. It's not even investing, it's pure outright gambling How is cryptocurrency worse than the fiat the government is printing out of thin air, you can't even do that with BTC which is one important aspect of why it was created after the financial crisis in 2008. People are pushing for mass adoption and it's working. It is working so well that the governments around the world want to create their own. US is one of them and a few in Europe. Link to post Share on other sites More sharing options...
alecks 751 Posted May 5, 2022 Share Posted May 5, 2022 The problem with NFT is the uniqueness of each one. It’s not a reliable investment or currency. At least with cryptocurrency there is an agreed upon exchange rate. A Bitcoin is worth a Bitcoin which is worth X amount of dollars at any given time. The exchange rate may fluctuate but it’s a straightforward transaction and the price is not subjective. If I wanted to purchase something with a cat gif I paid $10k for, then I sure hope the buyer thinks it’s worth the same. The value of that NFT is whatever the buyer thinks it is, which could be $10. While cryptocurrency is a risky investment sometimes, NFTs are worthless as anything other than a certificate of authenticity for a material object. Link to post Share on other sites More sharing options...
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