I was reading through some comments on this post: https://communities.win/c/GreatAwakening/p/12jd0GCP85/cashless-bitcoin-and-the-devil-w/c/
And realized, I have shrugged off crypto because I simply don't understand it. For someone like me who is now realizing it's a good idea to get involved, how do I do it? It's very overwhelming, but I'm committed to learning. Let's talk!
Every crypto coin is fundamentally, transparently a pump-and-dump scheme, predicated on yet another contrived intermediary currency with zero intrinsic value.
No value is ever created, so it is, by definition, a zero sum game (or worse, because these are usually actually negative-sum games due to the wasteful, value-destroying "mining" schemes employed). And, like poker, if you cannot immediately spot the sucker when you sit down at the table, the sucker is you. You will end up holding a worthless bag of nothing, and you will have nobody else to blame but yourself, and your greedy desire for money-for-nothing.
I presume people here are realizing this, because while there used to be dozens of cryptocurrency posts here every day, this is the first one I can personally recall seeing here in weeks. "Conspiracy people" appear to have paradoxically tended to be attracted to cryptocurrencies, which is odd, because these are all basically scams, dependent entirely on the "greater fool theory", that simply transfer money from the gullible to the connected.
Money is just language used to communicate value, whether it is shells, shiny rocks, paper money or goods, it all is the same and gains value from people wanting it.
"Every crypto coin is fundamentally, transparently a pump-and-dump scheme".
Please tell me you have read the white papers of all crypto currencies to come to this conclusion.
Digital scarcity IS a new thing. While 99% of crypto may be pump and dump ICO etc, a few are actually solving real world use cases using blockchain and crypto assets.
"Digital scarcity"? 🤣
A scarce worthless thing is... yes, that's right. Absolutely worthless.
The idea of digital money in the past wouldn't work because you can always copy bits of data.
If you can just copy/paste inflate your bank account all money would be worthless because everyone would have them.
By creating a digital asset that cannot be copied, bitcoin solved this issue which is at the crutch of financial enslavement. Rather than be at the mercy of the Fed reserve which can issue dollars and devalue your currency. Bitcoin has rules which has to be followed, one is that there will only be x amount ever created.
Like a gold mine with limited resources.
This is why something that is both digital and scarce has value.
Value still depends on people wanting said object however.
Clearly someone who has read every whitepaper on every coin would know how the monetary system works so they know what to look for in a possible solution?