Was it the crypto mlm or just regular crypto?
I don’t believe there to be much of a difference.
The tech is quite interesting imo.
One of my favorite things said about crypto by famous german hacker Linus Neumann about crypto was something like: They where so obsessed with whether they could make digital money work, and the technical is super smart. But they forgot to think about if they should.
I think the concept is solid, personally. I’ve had a lot of issues with international payments and just not having that is already appealing. Not to mention some countries still somehow deal in cash?
In theory. But then real life happens:
- You may not always have interner and power but need goods
- You may send money to the wrong wallet -> gone forever (doesn’t even have to be yout fault, great target for man in the middle attacks)
- You may forget your passphrase or your grandpa dies and you inherit nothing as nobody can access the money
- You want to pay in you supermarket. Great you have to wait till you transaction gets processed as this is super slow. And wait until many more people use this currency.
- It’s pseudonymous not anonymous. Everyone you send money and know in real life knows about your financials in detail 👌🏻
Macro things:
- It’s great to freeze assets of people who are shit
- It’s great to be able to control the amount of money in the system to counter crisis or just keep the economy healthy
- It’s great when people pay taxes
- Fixed amount of coins means deflation in the long run and deflating economies die faster than you can blink
- Proof of Work burns our world and Proof of Stake is oligarchy. Today the distribution of most coins is worse then normal currencies. (Richest have almost everything)
FUD. FUD. FUD.
“You may not always have interner and power but need goods”
^^ Credit/debit cards have this same problem. Besides, when was the last time you didn’t have your cell phone with you and had to pay in actual cash?
“You may send money to the wrong wallet -> gone forever (doesn’t even have to be yout fault, great target for man in the middle attacks)”
^^ Ok fair. But most exchanges in the future will probably support some degree of transaction reversibility. Most people will not self-custody but will instead use a bank, exchange, etc to help “soften” the experience of using crypto.
“You may forget your passphrase or your grandpa dies and you inherit nothing as nobody can access the money”
^^ There are many solutions to this problem including social recovery, keeping backups, or trusting a third-party custodian like an exchange or in the future banks will probably help manage your crypto assets.
“You want to pay in you supermarket. Great you have to wait till you transaction gets processed as this is super slow. And wait until many more people use this currency.”
^^ You know how long a credit card transaction takes to fully settle? 30 days. Any vendor is just going to accept a one-confirmation transaction which occurs in seconds if not picoseconds. This is really not an issue unless you are buying a house. If you are buying a house, you can wait 30 minutes for a full multi-block confirmation.
“It’s pseudonymous not anonymous. Everyone you send money and know in real life knows about your financials in detail 👌🏻”
^^ Monero and other privacy-respecting cryptos solved this, and there is talk of adding more privacy to Bitcoin.
“It’s great to freeze assets of people who are shit”
^^ You can still have court orders to seize all their money and assets, their house, their car, etc the only thing you arguably lose access to is their bank account. People with enough assets to justify seizing their bank account usually have somebody else manage their assets, that somebody else can be compelled with a court order.
“It’s great to be able to control the amount of money in the system to counter crisis or just keep the economy healthy”
^^ If you believe this is true you should know that blockchains can make their own economic policy. They can set the inflation rate and redistribute wealth however they like, some of them even have their own on-chain voting mechanisms to automate this. The difference is who gets to make those decisions: the participants of the network or some oligarch hack who finds it politically expedient?
“It’s great when people pay taxes”
^^ Crypto is not immune to taxes, you have to pay taxes on it like all other assets and foreign currency. Taxation works exactly the same.
“Fixed amount of coins means deflation in the long run and deflating economies die faster than you can blink”
^^ Only a few coins have a fixed amount, many have a built-in inflation rate. Land is a fixed asset. Diamonds are a fixed supply asset. Are they destroying the economy?
^^ Proof of Work burns our world and Proof of Stake is oligarchy. Today the distribution of most coins is worse then normal currencies.
Proof-of-stake has many varieties, not all of which inherently end in oligarchy. Even those are infinitely more democratic than our current financial system. PoW typically uses green energy sources as they are the cheapest and can be used to balance energy demand curves. The root problem is not that PoW uses energy, but where that energy comes from. Some PoW coins require “proof of useful work”.
Sorry disagree with most stuff and I also don’t see what such a system would improve for the majority of people.
But let’s not argue anymore let’s just agree to disagree.
Give it up dude, crypto is a niche interest, you foaming about it online isn’t going to cause a widespread adoption.
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I’m so old, I remember when instead of “crypto” it was “Amway”.
First it was Amway, then Tupperware, sheets, candles, and spices. My sister has gone through quite a few of these MLM schemes.
Such a mess. My uncle got suckerd into the Amway stuff. A best friend into cutco. A classmate into Primerica. A coworker into Mary Kay.
All under the guise of running “their own business”. Yeah nah. Any job that makes you buy the product before you can sell it, and makes you sell to friends and family first, is not a real job.
Don’t forget Cutco knives and Mary Kay! That happened to two friends of mine.
Same. Cutco targeted college students specifically, got two of my roommates.
I got the same mail recruitment thing they did, so I know exactly how gullible they are now.
They’re “EARN THIRTY DOLLARS AN HOUR AS YOUR OWN BOSS???” gullible.
I try not to bring it up too much.
I came here to say this. Hello fellow old person. Old school friend used to call me whenever he had recently gone to an amway pep meeting.
I am surprised at the many nice, fair, liberal people from my past that, 5-10 years later, have transformed into turbo-racists and Christo-fascists.
I know a bunch of trekkies, a fandom around a post scarcity, pseudo communist utopia, embrace crypto despite it being an artificial scarcity concept that doesn’t really fix any of the issues of the preceding system. I make fun of them whenever nfts come up, including posting any negative nft news into the humor channel of their discord.
The right wing trekkies is the weirdest one for me.
Like, let me introduce you to the original SJW, a little know fella named idk, Gene Roddenberry.
They’re not really right wing. Very suburban, sheltered and privileged, but I’ve never heard them talk politics. I can say extra privileged because one of them wanted to put an Battlefield sound board in their car. Sure, that’s what you want. Making it easy to accidentally make the sounds of gunfire if you ever get pulled over by a cop because your taillight is out.
As far as star trek goes, they’re rather talk about the power output of the phasers then character arcs. They’re very basic.
As far as star trek goes, they’re rather talk about the power output of the phasers then character arcs. They’re very basic.
They admire the technical details of the blue curtains, in other words, ignoring that it’s a story typically being told with an intended point to it besides “fictional energy beam go psheeeeew.”
Just to cover all bases. Maybe you’re just too late due to your brainwashing making you not realize how delusional you are? But of course that’s not the case, because you’re the Super Smartest Guy™, and everyone else is so stupid to not understand your true genius.
Congrats… I guess?
Maybe you’re just too late due to your brainwashing making you not realize how delusional you are?
Surely it is mental illness if people disagree with you! And mentally ill people are intrinsically bad and deserve contempt!
Your armband is showing.
Do you know this person or do you just act like a half coherent smug weirdo at random?
Maybe you’ve never been to America, but christian fascists are staggeringly common here
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You chose to make this post here, in the defense of religious bigotry. Somehow, something about this vague post was enough to trigger the reply you wrote.
Congrats. No guesses, you achieved exactly what you wanted: Everyone knows you’re an idiot.
A little misplaced anger can go a long way!
Ruin millions of lives, then misdirect the resulting outrage by telling everyone it’s the fault of immigrants/gays/trans/etc.
Never ceases to disappoint me how many people are fooled by that trick.
I can make terrible financial decisions on my own thank you very much.
Time shares you say?
But are they terrible enough? I’m sure you could use some help.
Looks like AMC
GameStop and Ali Baba mostly
alibaba and the forty thieves
Show the sum, I need some loss porn.
O7
F
Is crypto the male MLM?
pretty much exactly
“Monero” is being peddled in this thread.
I have to admire the persistence and endurance of crypto bros tbh. One million scams in a row and they still legitimately fool themselves into thinking number one million and one is the redeemer of humanity and not yet another scam.
That or they are full of shit con artists lying through their teeth who know it’s a scam but want to profit off it.
At this point it’s like 50:50
Here, we even got the claim that the “Darknet” is somehow a net plus for humanity because the peddler heard it saved the economy once for realsies and that human trafficking and kiddie creeping would have happened anyway (but the humanity saving needed the internet funbux!).
The one good reason for crypto is dodging sanctions, and that’s an entirely artificial thing that could be addressed by just… not having sanctions and using normal fiat currency
It’s a solution always looking for a problem… while making more problems.
Maybe his account was hacked? One of my friend’s Instagram account was hacked and was sending messages to invest money. Another friend really thought it was him and sent some money. If he contacted you directly then it’s another case
Sucks, sorry about that. Not many real friends in life, sadly.
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Hey hun
Usually when an old acquaintance reaches out to me on Facebook it’s to sell me a “job opportunity”.
What do you mean you don’t aspire to get into debt for working 24/7 and alienating yourself from family and friends?
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what if its Monero?
It depends, in a privacy-conscious way or as an investment? Because in the first term, Monero is totally cool for privacy. Because as an investment, en general crypto is … 😅
Crupto is not stock or gold. Crypto is not an investment. These crypro “chads” (yeah sure) thinks crypto is an investment… It’s like saying “hey! look at this new currency by this government! Surely this will 100X!! Let me buy a shit ton of it”
What if it’s this one good-one-grift over the other trashy grifts?
It’s like asking “what if it’s the good one billionaire” that still preys upon everyone else but has a better PR team to hide the bodies.
But unlike billionaire this is actually verifiable, and it even got the “stamp of approval” by the feds when they offered 600M for those who can crack it
It’s still internet funny money with all of the same capacity for pump and dump hype and dubious use cases like “get rich by making others believe more in it.”
unlike other internet money this thing is actually already widely used by most of darkweb so that’s a pretty big economy already using it
And one of the “features” of Monero is you can’t actually “get rich” by “investing” in it. Monero is very stable and is doesn’t go up or down that much. (**compared to other coins)
this thing is actually already widely used by most of darkweb
So your use case involves human trafficking.
Yeah like normal money isn’t used for illegal stuff… there’s even a theory that drug money saved the world partly from total collapse during 2008 crisis
false equivalency intensifies
Why are you peddling your internet funny money in a thread that’s specifically about people tired of people peddling internet funny money?
there’s even a theory that drug money saved the world
Suuuuuuuure, but you could say the same thing about normal money saving the world sometimes with your same mental gymnastics.
You don’t get to brush off how many of your fellow cryptobros are human trafficking enjoyers then at the same time declare a unique and special savior moment for your favorite human trafficking marketplace.
Or MLM stuff…
damn I didn’t know that they turned into the male equivalent of MLM boss babes
