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twohundred37 t1_j0045eh wrote

Reply to comment by sleazy24 in Former FTX CEO Sam Bankman-Fried refuses to testify before Senate, committee says. by AdamCannon

You really don’t give a shit about families that will wake up on Christmas morning with nothing? All because they were chasing the American dream, a system that allowed such a fucking disaster to happen in the first place?

Designed to allow for circumvention of all the existing rules of finance is a stretch. Often, it is designed to disrupt the entire way we exchange value, so it’s disingenuous to phrase it that way.

The market is incredibly volatile, yes… is that your definition of gambling? Probably. Is that the definition of gambling? No.

I have a feeling you got burned, or missed the boat.

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sleazy24 t1_j008te2 wrote

>I have a feeling you got burned, or missed the boat.

Do you not realize this is the exact FOMO gospel crypto bros NEED you to continue to regurgitate? Yeah sure, anyone critical of crypto is either a loser or upset they didn't manage to scam somebody else. I made some money and lost some money just like everybody else, and you know what? I realized at the end of the day it all comes back to USD, you know, the currency people actually respect because there are human beings backing it. Trust. Fuck a trustless system. Why? Because you get this exact scenario over and over and over, with no way to get any of it back... Just trust the code bro, we double checked it!! Meanwhile the people with access to the funds screw everybody over because EVERYONE IN CRYPTO IS IN IT FOR THEMSELVES. Rinse, repeat. WAGMI my ass BRO. Get a real job and create something of actual value instead of stupid jpegs you fucking dweebs lol. How many billions of dollars changing hands daily and for what?

>The market

What market? Jpegs? Its all bullshit bro, youre either a scammer or scammed. Holy shit the entire thing is useless and ret*rded lmaooo. I'll kill myself before I pay for groceries with WhateverthefuckCoin. In GOD we TRUST you damn heathens....

This has been your daily dose of FUD. Thanks for reading.

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twohundred37 t1_j00bs7k wrote

I had the feeling because you seemed so angry, not because I have a feeling my comment in a Reddit thread is going to spur some fucking price action in a cryptobro rug pull.

This is money you’re talking about. There are people who will take advantage of you whether it’s the current system, or in the waves of a disruption in that system. Anywhere, any time, in any way.

Crypto actually solves that problem eventually, but centralized exchanges have propped crypto up like a crutch to adoption pains.

Jpegs? You really want to start that conversation? Haha. You need to zoom out, friend. These are technologies. Tools people will use to interact, keep records, make agreements, transact, etc.

A problem with “actual human beings backing it (with) trust” occurs when 30% of the currency is printed within a year. It gets pretty difficult to divide trust, if you will. You’re angry about people setting up scams in uncertain times, be angry at crypto if you want I guess. I spent way too much time on this conversation I think

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sleazy24 t1_j00efv3 wrote

It's not a waste of time to have these discussions. I appreciate you taking the time to respond. I see some sort of value in blockchain but what we're currently doing with it is STUPID. We can't allow ourselves to sink into the metaverse, we need to build shit in our communities, in 3 dimensions. It pains me to see so many intelligent, talented people move to LA to sell virtual property and shit omfg... We all know the 'crypto utopia' people envision leads directly into the cyberpunk dystopia we all (should) fear. See: the #1 nft CryptoPunks... I know there's more to blockchain than the metaverse shit but we already have systems of recording transactions, interacting, making agreements. Not everything needs to be on the blockchain. I'd argue almost nothing does besides some complicated supply chain stuff maybe. But even then it's all about the Benjamins.

Dude why do you think centralized exchanges take off like they do? Because who wants to bother to protect their own funds?? I trust the US banks because theyre human beings with feelings who will hopefully not fuck me over. I cant say the same about any of the crypto exchanges ruled by cold permanent code by dudes on private islands

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twohundred37 t1_j00fgd6 wrote

Man, after all of that we sort of agree. Haha. What we’re currently doing with it is dumb. But the technology (hell yeah there’s value in the blockchain! :)) underneath the mess and failings of human nature is, to me, cryptocurrency. It’s an innovation, and if the current global economic problems continue on their current trajectory, it may be a revolution. I know that sounds kind of cheesy, but to me, why not throw 5% of my paycheck at it? It’s cool to watch the space grow. capitalist markets weed out the scammers pretty quickly, and if they don’t, the government intervenes.

It is good to learn where the oppositions come from. You’re right. This is why I’m on Reddit, these discussions. I appreciate your contributions to this one!

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sleazy24 t1_j00ja7p wrote

Heck yeah man we always have to strive to find some kind of middle ground. We all offer different perspectives and I know i have bias from my own experiences, not that I haven't had pleasant interactions in the crypto space as well. We all want financial security and accountability for the people with power and influence, and maybe crypto will play a role in a new system. Fingers crossed man. Good luck out there

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fistymcbuttpuncher t1_j007jh3 wrote

What part of gambling do you not understand?

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twohundred37 t1_j008hq8 wrote

You can use the crypto market to gamble, sure. And in the same light, the New York stock exchange is the same type of casino. But there are real projects trying to disrupt the entire infrastructure of finance, and coming up with some incredible answers to difficult problems. I support advancement, so I buy some of these coins and tokens because I believe in what they’re doing.

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fistymcbuttpuncher t1_j009wvg wrote

The only way to get a 'return' on crypto is if someone buys it from you for more than you paid. You can get dividends from stocks.

They are not the same and anyone who says they are is on meth.

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twohundred37 t1_j00cd56 wrote

You clearly have no fucking clue what you’re talking about. Dividends are paid out from profits to share holders much like staking crypto, where an asset is held and regularly paid from fees collected by the network.

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