Cryptocurrencies are a massive fraud
"Maybe you wouldn’t have the faintest idea. I am either a really awful person, or really likeable one. One serious man once said ‘How do folks keep nice things?’ 'I never play where nice things are.' Breaking vases is too much trouble. False belief is not ignorance. Once exposed, it’s very hard to get it out of your head. I'm not even gonna try, maybe someone else will. :P |
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" Top tier post, gotta admit. xD The way I see it world economy is unsustainable in the long run and it's on a fast track to collapse. Corona pandemic is so scary that i don't want even to think what might happen in the upcoming years. https://miro.medium.com/max/1164/1*r76fxDLGvvI4vqzJUFIFiQ.png Money for "dummies" https://youtu.be/H4XL8s1BEdk Crypto looks like another pyramidal stock market scheme where those who got in first reap the profit as they will amass most of the coins. It starts like any pyramid scheme rly. I create TorsteinCoin and I persuade my neighbors to get in, slowly raising the "value" of it (falsely by making people invest into nothing). By the time xyz person get in I will have the most coins and their value will be the highest.... Many crypto fanatics defend and advocate that amount of coins is limited. Ok, but what about "value" of it. First it has absolutely nothing to back it up. Second how can something be considered as currency as it changes value drastically every day. When literary group of people can manipulate the crypto market on the whim. In a scenario where world economy collapses to the ground does anyone rly think Bitcoin will be the means of trade? I would like to hear how that would work (disregard transaction speed completely). It's another stock market, just wild one without actual capital. Can you make profit? Sure. Can it be considered as global currency? I really don't think so, but i'm just uneducated exile. edit: I forgot the whole mantra that's it's decentralized, free world money blablabla. You have to sell the story somehow to the public with $$$. No one cares about that free world crap. It's stock market. To the moon! Right? Last edited by TorsteinTheFallen#1295 on Jun 27, 2021, 6:45:03 PM
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" Just forgot to say that. Idea that crypto will be the means of liberation it will actually be total opposite. |
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" Well said! Last edited by Kane_GGG#0000 on Jun 28, 2021, 2:42:00 PM
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It's bugging me for a long time, somewhere in the back of my head that i'm missing out big on crypto. The idea that i could have been rich if i acted few years ago.
At the same time whole crypto story never sat right with me. Always had off feeling about it. Lately i've been thinking in direction of investing/developing business (i suck at it) because inflation due to pandemic is getting quite noticeable and crypto was in my face. As i looked more into it the more fishy it seemed. It seems that shit is about to hit the fan soon. China makes general ban. Tether gets banned in USA. More shady stuff about crypto is coming up to the surface every day. https://youtu.be/jFp86n7QCf0 |
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"Thank you. "And there it is again, "real money backed by gold." Flat earth tier thinking. The "first bank note" section is glossed over a little too quickly — which is borderline forgiveable when there's a lot of ground to cover in an already long video, but it's on the bad side of that border in this case. The first paper money, that "IOU for 100 gold coins," didn't have value because it had a promise value in gold — or at least, the gold was a means to an end. An IOU for a similar value of some other commodity would have done about as well — and this exists today in what are called futures markets. No, it had value because people would trade for it. Why would people trade for it? Because they had faith it cold be exchanged for value. Very few people would ever make a run on the bank at once as long as there was faith the IOUs would continue to have value. So the real question is where that faith comes from. The answer to that question is: contract enforcement. Not gold, not silver, but the faith that, should the banker decide to be fraudulent and renege on his IOU, that one could drag such a fellow to court, whereupon he would be compelled to produce perhaps not exactly 100 gold coins but something of similar value. Perhaps only 80 gold coins of value, which might not be that big of a deal — for convenience, at the outset the IOU recipient was okay with a small fee. This is about overall risk assessment, and at a certain level it is more important that the fraudster loses than his victim receives full recompense, because the system is much safer when the would-be fraud runs his own risk assessment and decides not to be fraudulent. Enforcement is overhead; the unrealized threat of enforcement is cheap in comparison. And how do we punish the criminal and compel he honor his agreements? Ultimately, if it comes down to it, by force...  ...and force is violence. The supreme yada yada yada. The credible threat of legitimized violence to compel the value of currency, not the mere price fixing of it to a set amount of precious metals, is the root of the belief that money has value, and thus is the root of money's value. 40k Ork Waagh rules are in full effect. Because your little video dodges the link between money and violence, it makes some very untrue claims later on. [Removed by Support] When Stephen Colbert was killed by HYDRA's Project Insight in 2014, the comedy world lost a hero. Since his life model decoy isn't up to the task, please do not mistake my performance as political discussion. I'm just doing what Steve would have wanted. Last edited by Lisa_GGG#0000 on Jul 6, 2021, 9:21:45 PM
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Hi there, Exiles!
While we encourage community discussions, please keep in mind that conversations that are inflammatory, such as political or religious topics, are a breach of our Code of Conduct. As such, some posts have been edited, or removed, as they are moving into discussing politics. Please avoid discussing inflammatory topics in the Path of Exile forums. Thank you! Need help? Contact Support :)
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if cryptocurrencies are a massive fraud then explain why I'm subscribed to a femboy on onlyfans with dogecoin
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Because everyone knows OnlyFans femboys are the final word on macroeconomic theory.
When Stephen Colbert was killed by HYDRA's Project Insight in 2014, the comedy world lost a hero. Since his life model decoy isn't up to the task, please do not mistake my performance as political discussion. I'm just doing what Steve would have wanted. Last edited by ScrotieMcB#2697 on Jul 7, 2021, 10:50:40 PM
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https://www.youtube.com/watch?v=xb31Ydw6LPI&t
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