Update on our white nationalist Canadian math wizard hacker:
1 Like
Haralolbob is now a pump and dumper? Man how far heās fallen
Iām still under the belief crypto either rockets back up or crashes with 0 in between next year.
Feels more likely the latter based on those people leaving their jobs for it articles but idk.
1 Like
Might come down to whether anybody manages to launch a game or metathingy that draws in normal people. Thatās the only thing in the near term that seems like maybe thereās an actual use case. Everything else is either NFTās or smoke and mirrors finance platforms funding other smoke and mirrors finance platforms bringing solutions nobody wants for things they donāt perceive as problems.
People like having their finances centralized. People like having everything centralized. Roll out the Disney+ Metaverse on the Chase-Visa Smartchain sponsored by Coke. That shit would have a $50 trillion market cap.
I just still keep coming back to my central thesis:
For something that has created Trillions of value in 10 years, Iād think Cryptocurrency would have accomplished more by now.
1 Like
No amount of flowery libertarian-adjacent techbro word salad can change the simple fact that cryptocurrency is a) not a store of value and b) only actually useful or necessary to drug dealers, hitmen, child pornographers and assorted other criminals.
1 Like
Itās basically just modern day Wildcat Banking.
More simply, just look whose team youāre on! Iād prefer not to be on the same side as Elon Musk and the Winkelvii.
Tom Wambsgans : Iāve seen an average people who make reasonable decisions get fucked, a lot. But Iāve never seen a psychopath libertarian tech bro get fucked once.
3 Likes
Crypto smells bad, too.
Crypto being worth trillions is a silly/stupid/nonsensical situation in a vacuum.
Then again the ānormalā world is pretty messed up and nonsensical also. We have a literal fraudster in Elon Musk being the richest man in the world. A literal fraudster and criminal in Donald Trump rising to president. Stocks are up 200% or something since the start of the pandemic. Interest rates have been basically zero for 20 years. Teardowns are selling for $1 million+. People refuse to take life saving vaccines because reasons. I could go on and on but crypto isnāt really any more absurd or nonsensical than anything else currently going on in the world. Itās a symptom of the overall absurdity rather than the unicorn it gets seen as.
7 Likes
You left out c) source of millions of dollars of income for UP members in 2021.
2 Likes
tbf, if you own index funds youāre on the side of horrible dipshits as well.
2 Likes
Everyone here probably has at least some money in a 401k right, is that unethical?
Iām confused as to whose side of capitalism we want to be on? Or are we supposed to support fiat since governments are so good?
I have neither.
This is a pretty old trope at this point. Crypto is still used for illegal activity, but itās the more minor stuff like illegal online gambling that makes up most of it. This is because itās way easier to track illegal activity paid for with crypto than if itās paid for in cash. I guarantee your local drug dealer would rather be paid in cash than Bitcoin, because with Bitcoin thereās a permanent record of them receiving that payment.
I donāt really understand the constant hatred of crypto either. Just look at it as an alternative investment that you can choose to participate or not participate in. As others have said, everyone who has money in a 401k is de facto supporting some evil people. All of us have certainly participated in some activities with questionable legality given the gambling background of most on this forum. Why this one particular thing breaks so many peoples brains that they feel the need to shit on it with zero understanding or participation in the topic is weird to me.
I used to find it funny to make jokes about it too, but then I actually tried to learn about it and have made the decision to participate in it with a small portion of my net worth. That was my decision, and youāre perfectly right to make the decision to not participate in it if you donāt believe in it. But itās almost become like a religious thing for some of you where itās not enough that youāve made that decision, you need to convert everyone else to your side and ridicule those who donāt. Thatās the part where I fail to understand your motivation.
5 Likes
You ādid the research.ā Got it.
Itās not a trope, itās basic logic. People conducting legal transactions can and do just use actual money.
I mean, its value is measured in dollars. Exclusively. Which really tells you all you need to know.
Itās not a religious thing, itās a political thing. Personally, I hate libertarianism and am increasingly skeptical towards capitalism. I would be more favorable towards crypto if someone could give me a path towards it harming libertarians and capitalists.
1 Like