tbf I’m nearly certain that riverman’s point also is that crypto doesn’t actually do the thing that JonnyA says it does (and it doesn’t!)
I think you have it backwards tbh. I mean what exactly are people who have no interest in crypto and think it is dumb doing here? It’s just bad faith trolling right? How can you read Riverman’s posting here and think otherwise? Literally zero UP crypto people are crying themselves to sleep over any of this. And yet the same culprits keep showing up to rage about it in mostly nonsensical and detethered from reality rants.
You guys honestly remind me of my mom in 2003-2004 in tears about how unethical poker was and how I was going to ruin my life and lose it all.
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If you think Riverman is “raging,” you don’t know Riverman.
We’re like a decade into the glorious disruptive crypto revolution and it still feels like a solution in search of a problem. Money transfers to Africa? Is that really what all the hype and Matt Damon ads are about?
It’s ok to just ignore it? No one here has ever argued that it is about Matt Damon and the other tired tropes.
I don’t come to the Twin Peaks tv thread and tell you for months on end how fucking terrible it is even though I haven’t watched it. That’s what you guys are doing here.
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I literally posted an article showing that sending funds to Mexico is cheaper with crypto and that it already as of a year ago had over 10% share of remittances to Mexico - but I’m sure that you are the expert on this as well.
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Mexico is not the entirety of the developed world and a quick look shows a few articles with much lower rates. It looks like there was a big bump when WU and other type of places closed down during the pandemic.
Allowing transactions to continue during a pandemic seems the epitome of a great of use of crypto
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The use case for crypto is still 99.999% speculation. That’s what’s being discussed in the crypto subreddits and BFI and etc. the whole “well actually, it’s about cheaper money transfers” seems ridiculous to me.
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Fwiw, I recently sent money overseas and used Wise and it was really cheap (~1%), not sure how they pull that off. Maybe they are using crypto in the background.
More than anything else, this thread reminds me of what it was like trying to explain poker to my mom. And to this day she still doesn’t get it.
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Don’t even joke about trolling the twin peaks thread
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Poker is actually a pretty decent analogy in that eventually the government is going to start paying attention and may just shut it all down. What happens when a terrorist attack is financed with Bitcoin or banks actually start caring enough to use their immense power to have it regulated or the IRS gets their shit together and starts auditing and hammering crypto bros?
That’ll be a big relief for you, I hope it happens soon
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Maybe you just aren’t great at explaining things?
Is it new money, though? Or is it dirty money getting clean via NFTs? I mean, you can decide whether it’s folks increasing their purchase limits for a digital art into millions of bucks because they like the hairdo on it or it dirty money pushing the envelope on what they’re willing get away with before the party ends.
The IRS will get involved at some point, but its not like a necessary death blow. It will just likely look like the foreign account/FBAR crackdown. Most people reasonably trying to pay taxes dont have a ton to fear. The true Bitcoin true believer cases where BTC becomes the reserve currency or w/e would get attacked before it happened, and a terrorist angle would crack down on some things, but not most of whats happening now or what the discord is likely doing.
The better analogy to poker to me is just that in 2004 money rained from the sky, but then beating the game became harder and harder over time as the new money dried up. I expect this to follow the same path.
What percent of your guys crypto holdings are in Avax? What is the makeup of your crypto portfolios?
Expecting the US government to competently or effectively increase any financial regulations and enforcement in the future seems optimistic to me.
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I don’t love avax personally. My current spread is basically:
-30% liquid eth
-30% jpegs
-40% various defi staking type stuff across multiple chains including avax