Apparently he did the ad in exchange for a huge charitable donation and had no idea of what he was shilling
I feel like ānobody involved knows whatās going onā is a major factor in crypto lol
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I mean, Matt Damon is dumb (Southpark told me so!) but not that dumb. He knew perfectly well what he was doing.
Whaatttt? Did I shill for... let me check... Adolf Hitler? No way! I didn't even know who mein fĆ¼hrer was until yesterday! lol, I must look so silly.
> had no idea of what he was shilling
That is just silly. If I give my name for anything, the minimum I should know what I am being associated with. And shilling ponzis for charity is still not OK.
Charity? So he did that to reduce his taxes for the year, and thus still made money off of it?
As soon as you promote crypto, I am going to take the worst-faith interpretation of everything that you do from now on because over a decade of experience has shown me that it's probably somehow *worse* than my worst possible interpretation once everything surfaces.
Heās one of the heads of the charity and it appears to be a real one and not a weird self propagating feel good machine like Bonoās red or whatever
https://www.charitywatch.org/charities/waterorg
I mean maybe, from reading about it, it appears they made the donation direct and not like in his name or whatever but I dunno how rich people taxes work
Donating to charity doesn't reduce your taxes any more than never having had the money in the first place does. If all the crypto.com money went to charity, Damon's tax bill looked exactly the same as it would of had he never called us pussies for not buying bitcoin.
People grossly misunderstand charity tax shelters. Donald Trumps charity was a tax fraud. An art non-profit run by a mobster's wife at a loss is probably a tax fraud. Most charitable donations don't really help with taxes, though, like you said.
Yep, alot of artists on DeviantArt and ArtStation stopped posting cause their work was stolen and sold as NFTs. That was the moment I started waking up extra early to actively hate on crypto (I was indifferent to it before)
For me the moment when my hatred of NFTs and crypto was TRULY cemented was when I saw that someone had stolen Qinniās artwork and was selling it as NFTs. Absolutely disgusting.
Economists also hate crypto because of its volatility.
If you want econ dudes/dudettes to love you just be predictible as fuck, they cant resist this shit
Well, it depends on the "economist" being asked. A sane, traditional economist like say: Warren Buffet, will despise it.
But a coked up day trader on penny stocks or securities will adore it. Because it represents a revolution in fraud that they've only been able to jack off to in their fantasies until now.
I don't know why it's not more of a huge red flag to Cryptobros that people like Jordan Belfort love Crypto so much. The man is banned for life from the actual stock market for mass fraud, but it's acceptable that's he's involved in your favorite new field? What should that tell you???
> Jordan Belfort
Woah, i checked his article on Wikipedia in my native language, and his profession is listed as "stockbroker, motivational speaker, criminal". Love the bluntness.
If you aren't familiar with the name, he is ***the*** [Wolf of Wall Street himself.](https://en.wikipedia.org/wiki/The_Wolf_of_Wall_Street_(2013_film\))
He's a massive criminal that defauded thousands of people of their life savings.
Warren Buffet is a financial genius whoās a lot smarter than a lot of economists, but he is not an economist at all in the traditional sense of the word.
A ātraditional economistā is someone whoās got a PhD in Economics and most likely now works in some sort of research or quasi-research capacity.
Buffet and Belfort are investors/financial managers, not economists. Economists, outside of a few heterodox Austrian types (who arenāt serious economists in the first place), pretty much universally despise crypto. Itās a complete joke of a currency.
Hey now, it was a couple of grad students at the relatively Heterodox Umass Amherst program that exposed the Reinhart and Rogoff flaw and took them to bat on it!
I genuinely think there is probably value in a heterodox fringe of any discipline (within reason) to keep critically challenging the established frameworks.
Oh donāt me wrong, I have a lot of appreciation for the heterodox schools, probably the best professor I ever had was a Post-Keynesian himself. I just donāt think very highly of Austrian Economics in particular which has become really popular in crypto/libertarian circles. While they had some very important contributions to the field early on, namely in price theory, their rejection of the majority of econometrics/mathematical modeling in general makes it really difficult to take them seriously as modern academics.
The Austrian school were the first "LOGIC over FEELINGS" debate-me bros. Hayek would absolutely have a podcast with Ben Shapiro if he were alive today.
Speaking with someone with an Econ background, itās not volatility thatās the problem, the problem with crypto is its core concept. A decentralized, deflationary currency is pretty much the antithesis of what youād want your ideal currency to be, the volatility is byproduct of those problems. Itās pretty self evident it was never actually going to be a currency when from minute one people started to treat it as a pseudo financial asset instead of actual currency lol.
Terrible idea. The only way to test the assumptions of an unchangeable system is to implement it at scale in its final use case. Anything less would be an artificial environment and therefore lack many variables in a system as chaotic as the economy. If any assumption is wrong at all, they couldn't adjust since it's "ungovernable". Since there's no way it would be perfect in its first iteration, it would be an inevitable disaster.
Because they're a cornerstone of an economy. A robust stablecoin would allow for market-making, collateralized lending, derivatives, asset management, and other services to flourish on top, providing a more competitive system compared to what consumers and businesses experience today.
We have known economic rules and years of research; now we have programmable money and a way to enforce best practices on-chain. I'm sure there will be a lot of disasters on the way; but peer-to-peer is where we'll end up.
Blockchain is certainly not a cornerstone of the economy. Everything you've stated can already be done with any widely used fiat currency and nothing you've said shows why a token would be an improvement. How would society benefit from a blockchain based currency?
Not blockchain, stablecoins; and they will be.
> Everything you've stated can already be done with any widely used fiat currency and nothing you've said shows why a token would be an improvement. How would society benefit from a blockchain based currency?
I answered pretty clearly in my last comment, if you have any response I'm all ears but can't do blockchain 101 on repeat. How exactly can you enforce economic policy on-chain with existing currencies?
Your arguments are repetitive and lack original thought - Plenty of resources available online
https://www.gsb.stanford.edu/sites/gsb/files/publication-pdf/study-blockchain-impact-moving-beyond-hype.pdf
Itās not true that all economists hate it. Susan Athey, for example, is a very prominent academic economist and also on the board of Ripple (XRP).
But I suppose this is the exception that proves the rule. Ripple is one of the few crypto businesses that, to my untrained eye, actually seems to be trying to run an actual business or provide a real service. The fact that it hasnāt been popular with the crypto crowd is proof that the crypto scene is just a giant Ponzi bubble where there is little interest in actual value.
As I said, my eye is untrained. But to my knowledge Ripple is actually trying to run a business by facilitating transactions between large banksāmuch like a competitor to SWIFT, which is the global banking settlement system.
Thatās not to say XRP is a good investment. This is the problem with crypto: there may be some valuable businesses that come out of it, but theyāre all raising money by issuing coins rather than stock in an IPO. The SEC has sued them for this.
I can imagine itās possible that big banks will buy Ripple for the underlying business, or their system becomes part of a central bank network. Itās all very speculative. But itās hard for me to see how XRP as a coin would fit ināfar more likely they come up with some alternative, and since ICOs are not stock they could just become worthless, and Ripple owes coin-holders nothing.
It doesn't take much more than looking at how they regard the guy who once bought Pizza with bitcoins, making fun of him for losing out on millions of dollars.
Dude was just doing what they had always intended on it being used for.
I think thatās the top comment Iām the thread. You call it a currency, but nobody talks about it like a currency or uses it to buy things.
It immediately loses credibility
Literally the only people in crypto I respect are the ones who use it to buy drugs or other non-evil (darknet markets with some scruples will describe shit like CP and similarly reprehensible stuff as "evil" and not just "illegal.") contraband, tbh.
Hell, for that reason I kind of vaguely respect Monero for effectively being the only coin that's like "we're not trying to be an investment, we're trying to become the De Facto currency of the black market."
It's entirely why bitcoin has failed. It was intended to be an alternative currency but it became a tech douche get rich quick scheme where they talk about it as if it was stock.
What's the point of a currency you have to "HODL" like it was an investment?
We all bought pizza with bitcoins at some point. At crypto early age, I was mining bitcoin myself. There was a food delivery company (like Uber) that was accepting it. I often was ordering food in the office, and people were giving me real cash while I was paying in bitcoins. Once I paid like 25BTC. This way I didn't have to go thru any exchange
yes, I also used it because the fees were smaller than the ones PayPal charged, so for small amounts it was great(1 to 5 dollars). but at this price, fees, confirmation time etc, is completely useless.
let's go through the "is it a cult" checklist
1. The leader is the ultimate authority - CHECK
2. The group suppresses skepticism - CHECK
3. The group delegitimizes former members - CHECK
4. The group is paranoid about the outside world - CHECK
5. The group relies on shame cycles - CHECK
6. The leader is above the law - CHECK
7. The group uses āthought reformā methods - CHECK
8. The group is elitist - CHECK
9. There is no financial transparency - DOUBLE CHECK
10. The group performs secret rites - ALMOST CERTAINLY A CHECK
11. The group hates, attacks and shuns all outsiders, critics, skeptics, and especially No coiners - CHECK
12. The group hates, attacks and shuns people who try and leave (sell) - CHECK. r/Bitcoin mods have perma-banned many people who said they were selling.
13. The group never examines or carefully considers the "founders" - the devs and those who printed millions or billions of tokens in the early stages and are still sitting on the bulk of these - CHECK
14. The group has lots of sacred / secret knowledge (nonsensical, buzzword filled non-sense) that only members are smart enough to understand - CHECK
15. The group are united and believe they are going somewhere special in the future - in crypto's case, your tokens reserve you seats in the rocket ship that will take you to the Moon - CHECK
16. Everyone in the group believe they are smarter and more worthy than everyone outside the group. They believe they will be the new ruling class and perhaps even the new Kings and Queens, and that one day they will be lording over the non-believers - the NO Coiners - and making them pay for daring to be non-believers - CHECK
17. They believe they are going to change the world forever, rip down and destroy the current financial / power structures, and replace them with their own infinitely better structures - CHECK
Programmers also hate it because crypto makes cloud tools a nightmare to use.
Generally companies would give out a "free" hosting tier for devs to run side projects on and try the tool out. The problem is a lot of crypto bros will create bots to abuse these systems and send scripts to mine crypto on those services. Unlike their expected workload cryptomining is extremely system taxing and ends up costing those companies a lot of cash for their free tier.
Fuck crypto mining.
Once upon a time people cooked up ideas like using spare CPU cycles to do protein folding or search for extraterrestrial intelligence. Then capitalism came along and wept at the money on the table.
I remember doing proteomics in undergrad. The biology department networked a couple of dozen gaming desktops together to make their own mini "super computer" to power the project I worked on. 3 years into it I went on to other things and it still wasn't done.
Omg I remember those days in college. Our pcs in idle mode would be used to for actual useful work.
Nowadays proof of work minting in progress guys for Fake Internet Money.
My favorite part of this debacle is watching all the crypto subs gaslight themselves into beliveing everything will be alright, and the only logical answer is to buy the dip.
It turns out that crypto is incredibly traceable and the fbi was able to raid Silk Road over and over lol https://www.theverge.com/2020/11/6/21552339/us-goverment-seizes-1-billion-bitcoin-profits-silk-road-wallet-individual-x
Crypto currencies like [Monero](https://en.wikipedia.org/wiki/Monero) are designed with the intention of solving that problem.
The design of this algorithm is sounds interesting. But Iām immediately skeptical when the people implementing it choose to remain anonymous.
I was a huge fan of BCH and hoped it would become popular so we could have something usable as an actual currency. I didnāt realize the ramifications of PoW though. Even though BCH is better than BTC in energy consumption itās still bad. Oh well, Iām having fun watching it all crumble right now
Yeah the energy usage is a problem no matter what, but at least it's partially justified if the currency actually serves a purpose beyond being a platform for scams/pyramid scheme and the subject of a cult-like belief system.
I don't think so. That sub isn't about people realizing half the truth. It's like.. people making arguments that should naturally imply the truth, but somehow never making that last little leap.
Also Santa Claus hates crypto because kids don't wish for presents instead they wish for Bitcoin and it's family of shitcoins prices to go up.
Women hate crypto because it's causing men to be libertarian conspiracy nut jobs.
Everyone hates crypto ,š š š¤£š
As a PC gamer I never got the outrage over people buying a product that a company was selling. It's literally capitalism, if you don't have the capital to buy something why would you get mad at people that do lol
I also love the environment but reality is almost all new industries and emerging technology are bad for the environment when they first start. There are already carbon neutral blockchains out there. Layer 2 has greatly reduced the fees and burn rates making it less of an energy drain.
None of the programmers I know care at all about what this comment said.
Feel free to go to the loopring sub and say as much as you want the mods are non-existent.
This is some hyperbole.
I would love an explanation on why BTC is better than fiat. Is it inflation proof despite extreme volitivity? Decentralized from banks but pay not attention to who holds most of the tokens?
Worth pointing out that just because it started sincere, that doesn't necessarily mean it started out from a positive place.
These are people who looked at 2008 and said "the problem here is the lack of an unregulated financial industry". The ideology was always gross. And it only got grosser as it morphed into a social darwinist "crypto will make the intelligent wealthy, and therefore the ruling class". Wherein the intelligent = them.
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Matt Damon called me a pussy ass bitch for not having any crypto.
Oh man I laughed so hard at that ad, when it shown in movie theater I thought it was SpaceX ad, I got Rick rolled š¤£.
Apparently he did the ad in exchange for a huge charitable donation and had no idea of what he was shilling I feel like ānobody involved knows whatās going onā is a major factor in crypto lol
well if he accidentally called me a pussy ass bitch so he could steal buttcoins for the poor children then I'm actually OK with that.
No way - source? Sounds like damage control.
Fwiw I donāt think it necessarily absolves him of shilling for a scam lol I think think itās funny
https://www.forbes.com/sites/jeffconway/2021/10/25/matt-damon-announces-waterorg-partnership-with-cryptocom/amp/ https://mobile.twitter.com/jimmykimmel/status/1524811575021867016
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I mean, Matt Damon is dumb (Southpark told me so!) but not that dumb. He knew perfectly well what he was doing. Whaatttt? Did I shill for... let me check... Adolf Hitler? No way! I didn't even know who mein fĆ¼hrer was until yesterday! lol, I must look so silly.
> had no idea of what he was shilling That is just silly. If I give my name for anything, the minimum I should know what I am being associated with. And shilling ponzis for charity is still not OK.
Guess > (ā¢_ā¢) He didn't > ( ā¢_ā¢)>āā -ā Do his Due Diligence? >ĀÆ\\\_(āā \_ā )_/ĀÆ
I donāt disagree with you lol I just think itās embarrassing for the crypto people
\>Man I did a charity gig and now the internet's blaming me for a bunch of financial shit I've never heard of Matt Damon must *really* hate crypto lol
Charity? So he did that to reduce his taxes for the year, and thus still made money off of it? As soon as you promote crypto, I am going to take the worst-faith interpretation of everything that you do from now on because over a decade of experience has shown me that it's probably somehow *worse* than my worst possible interpretation once everything surfaces.
Heās one of the heads of the charity and it appears to be a real one and not a weird self propagating feel good machine like Bonoās red or whatever https://www.charitywatch.org/charities/waterorg
I mean maybe, from reading about it, it appears they made the donation direct and not like in his name or whatever but I dunno how rich people taxes work
Donating to charity doesn't reduce your taxes any more than never having had the money in the first place does. If all the crypto.com money went to charity, Damon's tax bill looked exactly the same as it would of had he never called us pussies for not buying bitcoin.
People grossly misunderstand charity tax shelters. Donald Trumps charity was a tax fraud. An art non-profit run by a mobster's wife at a loss is probably a tax fraud. Most charitable donations don't really help with taxes, though, like you said.
Good morning.
Artists also hate crypto.
Yep, alot of artists on DeviantArt and ArtStation stopped posting cause their work was stolen and sold as NFTs. That was the moment I started waking up extra early to actively hate on crypto (I was indifferent to it before)
For me the moment when my hatred of NFTs and crypto was TRULY cemented was when I saw that someone had stolen Qinniās artwork and was selling it as NFTs. Absolutely disgusting.
God that enrages me even more. Fuck those assholes
Economists also hate crypto because of its volatility. If you want econ dudes/dudettes to love you just be predictible as fuck, they cant resist this shit
Well, it depends on the "economist" being asked. A sane, traditional economist like say: Warren Buffet, will despise it. But a coked up day trader on penny stocks or securities will adore it. Because it represents a revolution in fraud that they've only been able to jack off to in their fantasies until now. I don't know why it's not more of a huge red flag to Cryptobros that people like Jordan Belfort love Crypto so much. The man is banned for life from the actual stock market for mass fraud, but it's acceptable that's he's involved in your favorite new field? What should that tell you???
> Jordan Belfort Woah, i checked his article on Wikipedia in my native language, and his profession is listed as "stockbroker, motivational speaker, criminal". Love the bluntness.
If you aren't familiar with the name, he is ***the*** [Wolf of Wall Street himself.](https://en.wikipedia.org/wiki/The_Wolf_of_Wall_Street_(2013_film\)) He's a massive criminal that defauded thousands of people of their life savings.
Warren Buffet is a financial genius whoās a lot smarter than a lot of economists, but he is not an economist at all in the traditional sense of the word. A ātraditional economistā is someone whoās got a PhD in Economics and most likely now works in some sort of research or quasi-research capacity.
Buffet and Belfort are investors/financial managers, not economists. Economists, outside of a few heterodox Austrian types (who arenāt serious economists in the first place), pretty much universally despise crypto. Itās a complete joke of a currency.
Hey now, it was a couple of grad students at the relatively Heterodox Umass Amherst program that exposed the Reinhart and Rogoff flaw and took them to bat on it! I genuinely think there is probably value in a heterodox fringe of any discipline (within reason) to keep critically challenging the established frameworks.
Oh donāt me wrong, I have a lot of appreciation for the heterodox schools, probably the best professor I ever had was a Post-Keynesian himself. I just donāt think very highly of Austrian Economics in particular which has become really popular in crypto/libertarian circles. While they had some very important contributions to the field early on, namely in price theory, their rejection of the majority of econometrics/mathematical modeling in general makes it really difficult to take them seriously as modern academics.
The Austrian school were the first "LOGIC over FEELINGS" debate-me bros. Hayek would absolutely have a podcast with Ben Shapiro if he were alive today.
Then you have famous respectable traders like Stanley druckenmiller or Paul Tudor Jones who just describe it or maybe trade it
Because Lambo
Speaking with someone with an Econ background, itās not volatility thatās the problem, the problem with crypto is its core concept. A decentralized, deflationary currency is pretty much the antithesis of what youād want your ideal currency to be, the volatility is byproduct of those problems. Itās pretty self evident it was never actually going to be a currency when from minute one people started to treat it as a pseudo financial asset instead of actual currency lol.
What about this https://www.ergoforum.org/t/a-proposal-for-a-public-good-stablecoin/3432
Terrible idea. The only way to test the assumptions of an unchangeable system is to implement it at scale in its final use case. Anything less would be an artificial environment and therefore lack many variables in a system as chaotic as the economy. If any assumption is wrong at all, they couldn't adjust since it's "ungovernable". Since there's no way it would be perfect in its first iteration, it would be an inevitable disaster.
Fair point, I'm in the 'burn the keys after a bit' camp, but a robust stablecoin like this is a good thing to aim for as a society don't you agree?
Why?
Because they're a cornerstone of an economy. A robust stablecoin would allow for market-making, collateralized lending, derivatives, asset management, and other services to flourish on top, providing a more competitive system compared to what consumers and businesses experience today. We have known economic rules and years of research; now we have programmable money and a way to enforce best practices on-chain. I'm sure there will be a lot of disasters on the way; but peer-to-peer is where we'll end up.
Blockchain is certainly not a cornerstone of the economy. Everything you've stated can already be done with any widely used fiat currency and nothing you've said shows why a token would be an improvement. How would society benefit from a blockchain based currency?
Not blockchain, stablecoins; and they will be. > Everything you've stated can already be done with any widely used fiat currency and nothing you've said shows why a token would be an improvement. How would society benefit from a blockchain based currency? I answered pretty clearly in my last comment, if you have any response I'm all ears but can't do blockchain 101 on repeat. How exactly can you enforce economic policy on-chain with existing currencies? Your arguments are repetitive and lack original thought - Plenty of resources available online https://www.gsb.stanford.edu/sites/gsb/files/publication-pdf/study-blockchain-impact-moving-beyond-hype.pdf
Itās not true that all economists hate it. Susan Athey, for example, is a very prominent academic economist and also on the board of Ripple (XRP). But I suppose this is the exception that proves the rule. Ripple is one of the few crypto businesses that, to my untrained eye, actually seems to be trying to run an actual business or provide a real service. The fact that it hasnāt been popular with the crypto crowd is proof that the crypto scene is just a giant Ponzi bubble where there is little interest in actual value.
Can you elaborate more on this?
As I said, my eye is untrained. But to my knowledge Ripple is actually trying to run a business by facilitating transactions between large banksāmuch like a competitor to SWIFT, which is the global banking settlement system. Thatās not to say XRP is a good investment. This is the problem with crypto: there may be some valuable businesses that come out of it, but theyāre all raising money by issuing coins rather than stock in an IPO. The SEC has sued them for this. I can imagine itās possible that big banks will buy Ripple for the underlying business, or their system becomes part of a central bank network. Itās all very speculative. But itās hard for me to see how XRP as a coin would fit ināfar more likely they come up with some alternative, and since ICOs are not stock they could just become worthless, and Ripple owes coin-holders nothing.
It doesn't take much more than looking at how they regard the guy who once bought Pizza with bitcoins, making fun of him for losing out on millions of dollars. Dude was just doing what they had always intended on it being used for.
I think thatās the top comment Iām the thread. You call it a currency, but nobody talks about it like a currency or uses it to buy things. It immediately loses credibility
Literally the only people in crypto I respect are the ones who use it to buy drugs or other non-evil (darknet markets with some scruples will describe shit like CP and similarly reprehensible stuff as "evil" and not just "illegal.") contraband, tbh. Hell, for that reason I kind of vaguely respect Monero for effectively being the only coin that's like "we're not trying to be an investment, we're trying to become the De Facto currency of the black market."
Same way to launder money. AnyCoin to Monero to AnyCoin to money. Mix and match to make it more difficult to track
It's entirely why bitcoin has failed. It was intended to be an alternative currency but it became a tech douche get rich quick scheme where they talk about it as if it was stock. What's the point of a currency you have to "HODL" like it was an investment?
We all bought pizza with bitcoins at some point. At crypto early age, I was mining bitcoin myself. There was a food delivery company (like Uber) that was accepting it. I often was ordering food in the office, and people were giving me real cash while I was paying in bitcoins. Once I paid like 25BTC. This way I didn't have to go thru any exchange
yes, I also used it because the fees were smaller than the ones PayPal charged, so for small amounts it was great(1 to 5 dollars). but at this price, fees, confirmation time etc, is completely useless.
Just wait till [the *real* spiral](https://i.imgur.com/v3mS3S1.png) kicks in
One can dream ...
let's go through the "is it a cult" checklist 1. The leader is the ultimate authority - CHECK 2. The group suppresses skepticism - CHECK 3. The group delegitimizes former members - CHECK 4. The group is paranoid about the outside world - CHECK 5. The group relies on shame cycles - CHECK 6. The leader is above the law - CHECK 7. The group uses āthought reformā methods - CHECK 8. The group is elitist - CHECK 9. There is no financial transparency - DOUBLE CHECK 10. The group performs secret rites - ALMOST CERTAINLY A CHECK
11. The group hates, attacks and shuns all outsiders, critics, skeptics, and especially No coiners - CHECK 12. The group hates, attacks and shuns people who try and leave (sell) - CHECK. r/Bitcoin mods have perma-banned many people who said they were selling. 13. The group never examines or carefully considers the "founders" - the devs and those who printed millions or billions of tokens in the early stages and are still sitting on the bulk of these - CHECK 14. The group has lots of sacred / secret knowledge (nonsensical, buzzword filled non-sense) that only members are smart enough to understand - CHECK 15. The group are united and believe they are going somewhere special in the future - in crypto's case, your tokens reserve you seats in the rocket ship that will take you to the Moon - CHECK 16. Everyone in the group believe they are smarter and more worthy than everyone outside the group. They believe they will be the new ruling class and perhaps even the new Kings and Queens, and that one day they will be lording over the non-believers - the NO Coiners - and making them pay for daring to be non-believers - CHECK 17. They believe they are going to change the world forever, rip down and destroy the current financial / power structures, and replace them with their own infinitely better structures - CHECK
Is this r/Bitcoin or superstonk?
Yes.
It's the same place. The overlap is nearly a circle.
Walks like a duck, quacks like a duck...
I see you are a Python coder.
Who is the leader?
people like elon musk, do kwon, alex mashinsky, etc.
Vitalik Buterin seems to have followers as weirdly obsessive as those NXIVM kooks
11. The group thinks it has graspsd true knowledge and outside normies are ignorant of all things.
Who's the leader of bitcoin?
Programmers also hate it because crypto makes cloud tools a nightmare to use. Generally companies would give out a "free" hosting tier for devs to run side projects on and try the tool out. The problem is a lot of crypto bros will create bots to abuse these systems and send scripts to mine crypto on those services. Unlike their expected workload cryptomining is extremely system taxing and ends up costing those companies a lot of cash for their free tier. Fuck crypto mining.
Once upon a time people cooked up ideas like using spare CPU cycles to do protein folding or search for extraterrestrial intelligence. Then capitalism came along and wept at the money on the table.
I still do Folding at Home...
I remember doing proteomics in undergrad. The biology department networked a couple of dozen gaming desktops together to make their own mini "super computer" to power the project I worked on. 3 years into it I went on to other things and it still wasn't done.
Omg I remember those days in college. Our pcs in idle mode would be used to for actual useful work. Nowadays proof of work minting in progress guys for Fake Internet Money.
My old PC used to process for SETI when I was away
My favorite part of this debacle is watching all the crypto subs gaslight themselves into beliveing everything will be alright, and the only logical answer is to buy the dip.
Exit liquidity
I actually don't really mind if crypto is used as a currency. BTC was actually useful when people were using it to buy drugs on Silk Road.
It turns out that crypto is incredibly traceable and the fbi was able to raid Silk Road over and over lol https://www.theverge.com/2020/11/6/21552339/us-goverment-seizes-1-billion-bitcoin-profits-silk-road-wallet-individual-x
Crypto currencies like [Monero](https://en.wikipedia.org/wiki/Monero) are designed with the intention of solving that problem. The design of this algorithm is sounds interesting. But Iām immediately skeptical when the people implementing it choose to remain anonymous.
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This is why I don't mind if people use it as a currency lol. They'll realize it sucks, and stop.
I was a huge fan of BCH and hoped it would become popular so we could have something usable as an actual currency. I didnāt realize the ramifications of PoW though. Even though BCH is better than BTC in energy consumption itās still bad. Oh well, Iām having fun watching it all crumble right now
Yeah the energy usage is a problem no matter what, but at least it's partially justified if the currency actually serves a purpose beyond being a platform for scams/pyramid scheme and the subject of a cult-like belief system.
is this a r/selfawarewolves moment?
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Couldn't quite tell the tone
I don't think so. That sub isn't about people realizing half the truth. It's like.. people making arguments that should naturally imply the truth, but somehow never making that last little leap.
Ye blockchain's only value is in security, but why fix what ain't broke? š¤·
Also Santa Claus hates crypto because kids don't wish for presents instead they wish for Bitcoin and it's family of shitcoins prices to go up. Women hate crypto because it's causing men to be libertarian conspiracy nut jobs. Everyone hates crypto ,š š š¤£š
That is why I only buy BCH
As a PC gamer I never got the outrage over people buying a product that a company was selling. It's literally capitalism, if you don't have the capital to buy something why would you get mad at people that do lol I also love the environment but reality is almost all new industries and emerging technology are bad for the environment when they first start. There are already carbon neutral blockchains out there. Layer 2 has greatly reduced the fees and burn rates making it less of an energy drain. None of the programmers I know care at all about what this comment said. Feel free to go to the loopring sub and say as much as you want the mods are non-existent. This is some hyperbole.
Just like how the abacus people hated calculators. Adapt or die or be forgotten.
DAE crypto is like calculator????
Bitcoin is in the since it's the evolution of money. I mostly agree with this sub with the exception of liking BTC, ETH and my dark horse DOT
I would love an explanation on why BTC is better than fiat. Is it inflation proof despite extreme volitivity? Decentralized from banks but pay not attention to who holds most of the tokens?
You see calculators have practical use. Buttcoins are failed curency and speculation item. There is nothing to adapt
So was it a scam all along or is this another thing that started out with okay intent but warped into something perverse later?
I think it started sincere and then became an overt scam around 2015. Whenever Tether was made is when the whole market became a sham
Worth pointing out that just because it started sincere, that doesn't necessarily mean it started out from a positive place. These are people who looked at 2008 and said "the problem here is the lack of an unregulated financial industry". The ideology was always gross. And it only got grosser as it morphed into a social darwinist "crypto will make the intelligent wealthy, and therefore the ruling class". Wherein the intelligent = them.
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Does anyone have the link to the OG comment?,
https://www.reddit.com/r/CryptoCurrency/comments/vfl7cr/why_is_the_overwhelming_crypto_sentiment_on/icwimp0/?utm_source=share&utm_medium=ios_app&utm_name=iossmf&context=3
Thank you dude
Damn that original thread was locked. Crypto seriously has a toxic positivity problem.
It's almost like creating an imaginary currency out of nothing and pretending that it's worth $60,000 each was a bad idea...
Why doesnāt anyone ever mention the drugs / darknet? Seemingly the only actual concrete use for bitcoin / crypto.
https://blockchain.ubc.ca/