Follow

So now the trend is to crap on crypto?
People complaining crypto has xyz issues, completely oblivious those issues are the same on any currency and most markets.
:blobcatfacepalm:

Using words as cryptocurrency to describe a bitcoin issue is the same as saying the word computer to describe a windows issue.

@epical Considering it's effect on chip shortage, power consumption and uselessness as actual currency I think there are more than enough reasons to shit on cryptocurrency.

@epical Let's not pretend stuff like Etherium is better.

@person @epical central banks have announced the intention to run their own. expect propaganda funded to get rid of their competitors.

@icedquinn I mean it's not like their competitors are good or anything, I wouldn't mind it very much :blobcatshrug:

@epical Ehrm, there is no other "currency" (cryptocoins as they are now are at best a store of value) that is based on deliberately wasting resources.

Look at the cost of doing one transfer over bitcoin over something like SEPA.

@sotolf @epical Not to mention it's very difficult to get your hands on crypto money. You need to have a lot of money to properly invest in it and only people who can do this are those who already have a lot of money

@person @epical Yeah, and proof of stake is basically the same thing put into a system, so the haves can get more, and the ones that already have the means gets to control the whole chain, it's also a very faulty system. Not to forget if I forget my bank account number I can just go to my bank if I forget my wallet number the money is just gone.

@epical What are you gonna buy with 5$? Basic Attention Token?

@epical @person And just gamble on a thing that is most likely a ponzi scheme, like 99% of "crypto tokens"?

@sotolf You clearly don't understand what you're talking about, but that's ok.

@epical So that's why you're not willing to give a single example? while I have continuously done?

@person

@epical Ah the good old I've run out of arguements so I bring out the ad hominem ;)
@person

@epical I personally don't want to contribute to the problems of crypto, especially the environmental ones. You can do it if you want to :blobcat:

@epical Is etherium or monero any better? I think they are the other 2 big ones and they are based on the same (flawed) system.

@sotolf Windows is big too, we know is trash but people keep using it, that doesn't make everything else trash like it xD.

@epical So tell me how it makes any difference when everythign that are really in any kind of use of the crypto currencies are "the cartoon villian turn on the resource vasting mackine" kind please..

@epical So tell me which big crypto currency that doesn't have the problem, for most people crypto is synonymous with the "big 3" bitcoin, monero and etherium, all three suffer from the same problems that you're trying to "debunk" with this silly excuse of "not every crypto coin"

@sotolf I don't want to argue, I'm just pointing out that not everything is bitcoin or the "big 3". Your generalization is what's silly about this. BTW, I don't own any of the "big 3" and I agree with you about it but I don't put everything is the same bag.

@epical So tell me any coin that is even close to them in size and doesn't have the same issues.

@epical so you're still doing "not every crypto token" when what most people hear when you're defending crypto currencies are bitcoin, monero and etherium. Then rather defend the tokens you mean don't suffer from those issues, and we can talk about the same thing...

@sotolf You're doing the "most people", " big 3" argument. But you know that means nothing. Call them by their names.

@epical Again you keep on denying giving an example of what you are talking about while still accusing me of being deceptive, I've said multiple times what I'm talking about, I'm not the one being deceptive here.

@sotolf Also, talking about "most people", when you say crypto, tokens are included.

@epical Again, you don't want to name any you mean are different so what am I supposed to do?

@epical
Trend? Crptos have been frowned upon by the majority ever since they showed up

@wuwei Yeah but what have not been frowned upon by someone is my question.

@epical It's not a trend if it's only two people complaining.

Bitcoin has teething issues, but it's advantages make up for it. You can trade it anywhere in the world without any government or company stopping you. Nobody can tell if you hold it, because all you need is your 12 word seed phrase. It won't replace fiat any time soon (unless you're in Venezuela) but it's not going away either.

Not everyone needs BTC's features, but it's far from useless.

@bkhan While I can see that the "big 3" are wasteful I also understand that money based on gold also comes with environment cost and money based on nothing but numbers on a screen and printed papers are as ponzi scheme as its possible to be. But any of this is going away so I would rather support cleaner forms of energy production for it and keep the benefits than say its all bad and must be stopped, because that's silly, is only serving what govs/bakers want and its listening to propaganda.

@epical
Ask any financial or accountant grad, btw I studied accounting and stat academically they'll tell you what is the value of currency from many aspect.

What I think. I think just as currencies are based on gold in many countries around the world (except the dollar BTW), cryptocurrency value is based on electricity, which is based on gold.
@bkhan

@epical @bkhan
Wherein electricity is expensive, the crypto currency becomes as expensive, wherein gold is expensive, it becomes harder and more expensive to maintain electricity, including overhead costs etc.

So its not really a good concept for crypto currency to have its value equivalent to electricity, and am surprised that nobody talked about what crypto currency is actually based on.

@epical @bkhan
I have thought about crypto currency for a long time, there are good things about it for example for privacy, and that could actually be the currency that unites the world one day, but the expense side of it just not stomachable.

But I'm already fed up with environmental pollution for the past 18 years. So I don't think adding another issue to the environment is going to please anyone

@epical @bkhan
Though the claim crypto currency being fully private and anonymous is not actually true.

Sign in to participate in the conversation
Fosstodon

Fosstodon is an English speaking Mastodon instance that is open to anyone who is interested in technology; particularly free & open source software.