Thoughts on Cryptocurrency?
Thoughts on Cryptocurrency?
I was wondering what viewpoints and opinions this community has when it comes to cryptocurrency.
Personally, I'm not against it, but I'm not for it either. I like the concept of bringing back cash anonymity, and also decentralization (obviously). Although I don't think it will be viable for at least another decade.
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I see no point for it to exist.
https://help.gumroad.com/article/156-gumroad-and-adult-content
This is a recent one that came up, but this happens every few months. If payment processors just did their jobs there wouldn't be as much of a need for other ways to do transactions. It's also still a pain in the ass to send money to individuals in other countries even when everything works the way it's intended.
Morgan Stanley boot licker this one
No, I have no love for financial institutions.
What value does a crypto bring by itself? It's not land or a business so you can't develop it. It's not a person or application so it can't perform labor. Crypto is not even physical so I can't eat it, burn it, or use it as a paper weight.
It's only purpose is to be speculated on for trading purposes for REAL MONEY. Crypto currency life cycle ends with it being exchanged for another currency, that's just redundant. It's a griff like speculation on old comic books was back in the 90's, except you don't even get nerd crap you're trying to offload.
Finally it's not backed by the violence of another country. Ever since USA moved off the gold standard "the faith and credit of the US government" which is a fancy way of saying the military industrial complex. That's real and powerful if not ambiguous, which is more than I can say for a list of completed math problems. You and your kind are too weak to have a currency.
You are not an economic revolutionary. You are part of an insular group participating in a ponzi scheme that is desperately trying to get mass adoption so you're not "holding the bag". In crypto there is someone always "holding the bag" because crypto has no innate value.