- cross-posted to:
- technology@piefed.social
- cross-posted to:
- technology@piefed.social
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most miners have calculated the rate for electricity to keep their rigs profitable and have automatic kill switches based on market prices. it’s not exactly news that rugs are turning off right now
Finally. Let us be free of crypto please.
You are free of crypto.
no one is forcing you to use it
Except for the brain dead governments that spend our money hoarding it.
Tell that to my arms dealer.
Removed by mod
Yeah. Let’s give banks all the power.
Yeah, fuck banks, give all the power instead to the exchanges, governments and whales. Give up any ability to mitigate or manage global economic crises. That’s so much better.
The naivete coming from crypto bros is amusing. “Let’s turn our global economy into history’s largest pump and dump scam…as long as I’m not the one holding the bag!”
Like they don’t already have it?
Stay in school.
“you guyz are so dumb, I understand all of this stuff because I hang around on crypto subreddits listening to other wealthy scammers tell me how economics works”
serious question, what power has Bitcoin gained away from banks?
You can report critically on Israel without being debanked from Bitcoin. https://www.mintpressnews.com/german-journalist-potter-israel/289421/
Every movement of money outside of the banks is taking power away from the banks and governments.
While they will use bad actors as excuses to shut down this flow outside their direct control, the effects from them having a monopoly are far far worse than the free wheeling consequences that came before, and ecompass many of the same problems.
Much of this crypto is a scam, and gamble stocks, and bad for the environment, yet the idea, money moving outside the control of the banks and governments, is a neccessity to prevent the worst case scenarios we are staring down the barrel of right now. There are worse things than unregulated currency, and an all powerful government(s) run by the worst most malicious people in the world are one of them.
You honestly believe power will move away from the banks to you, holding a miniscule fraction of crypto (probably) if you’re lucky enough not to have it stolen in a pump and dump? Do you seriously believe that power won’t just concentrate somewhere else? That removing economic control won’t cause unintended effects?
Not at all I’ve no faith in any of the scams out there right now. But concentrating all of that power into banks under the control of our governments will lead to even worse outcomes. Hopefully some worthy alternatives will arise at some point.
It’s not just bitcoin, but cryptocurrency in general enables decentralized transactions and some of them even maintain anonymity for users.
Why not go further and imagine a world without money, crypto or fiat?
Bitcoin doesn’t give power to you or me, it just transfers the power from one set of bastards to another, because it’s STILL MONEY and money is and will always be a tool for exploitation.
until you need actual cash, in which case you give your identity to any reputable exchange.
also who actually benefits from “decentralized” transactions? specifically who and how.
also, that anonymity is what cash is for.
until you need actual cash
Crypto can replace cash if more people use it.
also who actually benefits from “decentralized” transactions? specifically who and how.
Everyone that doesn’t benefit from the surveillance state.
also, that anonymity is what cash is for.
How are you going to exchange cash across vast distances quickly and anonymously?
that anonymity is what cash is for.
Crytpo is a currency of crime and corruption. The biggest problem Pablo Escobar had was moving around thousands of pounds of money, a lot of which he had to bury and was eaten by rats. Cash is hard to launder. Ryan Wedding grew his empire very fast using crypto across borders.
The only advantage of crypto is that it doesn’t physically exist, and no one has to report sending or receiving large quantities of it, unlike cash.
$1M in 20s is 40-50kg of weight. Hard to smuggle up your ass.
Nature is healing
Cryptocurrencies have various use cases:
- moving money from and to sanctioned countries, like Belarus, Iran, North Korea, Russia
- paying for criminal activities, like hitmen, organs, drugs
- scams
In most cases, they do more harm than good.
Replace crypto with cash and all those things are true, and yet…
The point of crypto is to remove control of currency, so does it do that or not?
The point of crypto is it is controlled via programmed rules, depending on the type, which in theory would make it more fair if coded properly.
You’re talking about programming control, I’m taking about macroeconomic control. Switching to crypto removes many of the levers of macroeconomic control, or it shifts the control over to exchanges, mediators (courts), miners, validators, whales, and - probably not what crypto boosters want to hear - governments, who remain the power brokers and can easily assume these roles. Moreover, if crypto boosters think banks won’t use their enormous capital, power and overall economics expertise to shift into one of these roles, they’re delusional. I feel like crypto boosters think that banks just “don’t get it”, and this is ludicrous…banks have hundreds of years of institutional economic knowledge and experience. Economics doesn’t just get invalidated by crypto.
All of this ignores the fact that crypto is highly susceptible to volatility and scamming overall. Crypto has a larger more complex attack surface at the application layer, and this makes it substantially more risky particularly as malicious technology advances in that domain and can quickly outpace the technology required to secure against it.
finally!
Bitcoin is the currency of pedos. Crypto is used to pay people in the global south to abuse children live on ppv streams. The real amazing things is the EU wants to ban encryption which is a basic right to privacy instead of banning crypto and in a double whammy fuck the orange pedo in chief and his suppliers and drug traffickers in one fell swoop.
To be fair saying crypto is the currency of pedos is like castigating dollars for being the currency of the pedos. By the same logic we could condemn about anything. Crypto by volume is used way more by scammers than pedos anyway. 40 billion just in romance scams out of SE Asia run by Chinese Gangs with forced labor that is mostly run through crypto I presume.
But that doesn’t mean crypto should be illegalized for that alone either. The governments will always use those examples to lock everything down under their control and the consequences of that are far worse than the free wheeling problems that came before.
Dollar IS the currency of the pedos too… The leader of dollarland is one of the chief pedos, one could say, pedophile in chief!
The logic to condemn crypto because one group that sucks uses it it defective, is my point.
The dollar is a lot larger than an Israeli honeypot to ensnare swells in the west into fucking children on camera with epstein for Israel to hold and ensure their undying devotion no matter if they are cancelling their freedom of speech at home or pursuing a blatant final solution against their others. Just as crypto is bigger than the criminals that use it, and making that association will lose your credibility one would need to make other points.
That said, our politicians will max out the credit f the country, and de facto default printing money to pay off the debts that will skyrocket by tens of trillions of dollars every excuse they get while destroying the trust inherent in the system in multiple ways. One trust will remain for now, that big business that pays them off will be bailed out by tens of trillions in borrowed money when their own cheatings crashes their own businesses.
