Is Crypto Dead?
(www.spectator.co.uk)
Comments (27)
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...it was a scam from the start....
...incoming hate in 3...2....
You know nothing about crypto, you old person, you. Lose the doge profile pic!
FIAT is FIAT it doesn't matter if you are trading statues at Easter Island, DogCoin, or US dollars. Crypto is funded by FIAT for FIAT by FIAT.
LOL good luck out there.
Like this:
https://i.pinimg.com/originals/9a/73/cc/9a73ccae1f1695e40eafeeac12dfd361.jpg
u/#howl
Lol Doge was a meme long before Dogecoin youngling
@ Gotrek
“Much wow.. such knowledge.. many memes”
I know doge was a meme, doofus. I internet well. Good thing I sold the all the Dogecoin I purchased in 2017 last summer. “Much gains!”
Trump doesn’t like crypto. In its current form, there is nothing backing it and it is way too easy to use nefariously by the cabal to launder money.
Many have done really well with it, but a true currency cannot be this volatile. We will see what happens, but crypto won’t survive in its current form. My opinion of course.
Crypto isn’t meant to be currency. Crypto is meant to be your participation in the function of a network. There is the flaw in most people. They view crypto as a stock.
Crypto won’t die because it serves a purpose. Micro transactions, distributed computing power etc. obviously there are shit coins that do nothing. Those will die. But things like bitcoin, ethereum, Cardano, monero, loopring, lumen, ripple, helium etc all have a purpose.
So which ones are deep state assets used to traffic children, drugs, and guns? Because you know that’s happening. Plus, they pump and dump them all the time.
I’m not saying they will all disappear, but I have a feeling they won’t all continue in their present form.
The proponents of crypto will defend it to the death. It may serve a purpose, but a volatile currency with no backing other than public sentiment seems shady at best to me. Especially considering where most public sentiment starts on the bot farms.
I understand what you’re saying but It’s the same as any form of barter. Silver and gold are used for all the same evil things. They are also used for good things. We’re not the only ones who want to hide our transactions.
Doesn’t matter what the barter token is. My point is that the system has a value outside of barter and will not disappear like some hope.
Crypto is not dead.
What we are seeing in the cryptocurrency markets is a much needed draining of all ponzi scheme tokens and projects. What will remain in the cryptocurrency market after The Storm are only those tokens and projects with legitimate use cases and reasons to exist.
There is a very important function for cryptocurrency going forward, particularly in the realms of intellectual property and data sovereignty.
The future of music, film, and video games is one where smart contracts allow the transacting of these digital assets in an open and fair market. Presently it is the publishers, producers, and record companies that hold the ultimate power over intellectual property, leaving the original creator with very little agency in the sale and distribution of their product. That will all change, and cryptocurrency will allow for that change to occur.
So too will we see a radical shift in the way our data is transacted through our social media, medical establishments, tax centers, insurance agencies, and banking institutions. Our data presently does not belong to us. We give it away freely, and allow for elite oligarchs to compile it and sell it. Cryptocurrency will allow for the profits of this data to flow in the direction of those who originally created that data; i.e. the people.
We need to divorce ourselves of the simple notion that cryptocurrency can only be used as a stand in for the U.S. dollar, and as a hedge against inflation. If you invest in crypto using that hypothesis you will ultimately find yourself a bag holder of the latest hyped token. Invest wisely. Read the White Papers of projects. Decide for yourself which projects have actual real world use cases for their coins, and teams that are talented and well connected enough to see their vision come true.
In short; do your own research.
Well Said! Here is a future token with a focus on the premium end products.
Future is Now
No comment from the linked article?
Read my comment. I addressed quite a few points from the article.
I also presented a solution to the problems addressed in the article.
It is entirely possible for the article to be correct on some assertions, and wrong on others. They are correct that the pyramid schemes of cryptocurrency are coming to an end. They are wrong on the assertion that cryptocurrency as a whole is going to vanish off the face of the Earth.
Anyone who believes that there is no future for cryptocurrency is both incredibly naïve and extremely uninformed on the real world use cases of cryptocurrency, and why they are needed so direly in our world.
Cryptocurrency will, I contend, ultimately replace our corrupt stock market. When the Gamestop bubble comes crashing down, I believe it will bring with it a number of corrupt banking institutions, and ultimately lead to a great disengagement and distrust of the current market dynamics and status quo that will lead to a future where stocks are tokenized on the block chain, and all transactions are transparent for all to see the legitimacy of the market and to enshrine trust once more in our economy.
In essence, every single person can create their own currency when we take into account your time, your skills, the quality of your work, etc. Technically, that is the really easy part.
Crypto is perfect for replacing the physical letter stating your credit line. Except, most people are bad at banking. The more complex a society, and the proliferation of assets, the moment of reckoning will come.
I my view, current crypto is not the end stage, but a primal iteration on the road to full emancipation. Till then, and in the current climate, I see no advantage in crypto, but rather I see it as a trap, that locks-in what you have, especially with the push to digitization of your person. Meaning, as a human, you have to either conform to the access rules, or you won' t be able to play int he sandbox.
I will simply ride out this storm with what has shown to be storm resistant: Gold, Silver, food, land, water, brass, and off-grid-electricity-generation.
some people see it your way, others as the future. I've had changing opinions and atm I'm kind of one foot in each camp. It is the future, and yet there will be a point when the digital society is going to make it really hard to live life relatively freely.
privacy coins are a good solution to that, but as max igan suspects, up to a certain time, possibly 2025 our relationship with the internet might change so much to internet access, and therefore even privacy coins might be difficult to use.
but the 1 certain thing is that there until then there is going to be a several massive surges of money flowing into crypto, which if positioned early, will profit us bigly. and then we can take that wealth into gold, silver, off-grid living
Intresting take. And indeed the views differ from person to person. It probably also depends on what type of coin it is.
USDT was meant to be a full reserve currency but turned out not to be.
Other coins allow staking in order to foster mining.
Then there are NFT-like-coins, based on factual assets. The latter is something I like, as they actually make the asset portable, though it is based on a peg. It is interesting to note Russia, China and other countries are working on a coin based on a basket of assets, not currencies, as these are floating and have no value in and of itself, in order to facilitate trans-border-exchanges on a state level, saving a lot of difficulty in terms of mutual currency swaps. Based on the performance it is anticipated that the participating currencies themselves will fluctuate in relation to the new crypto currency.
It is a return to sounder money than fiat.
On a personal level, an asset based currency that would be anonymous would mean a return to the days of the gold and the silver standard, where a coin represents a certain weight. The problem with this at current is the gay party of price suppression. And since we are in price-la-la-land, and the price discovery mechanism does no longer function, it does not ring good.
The deep state with its price manipulations have basically rendered all currencies inept. Think the price suppression going on with current cryptos in light of the interest of the politicians and CBs to introduce their own version.
That said, I see an anonymous crypto based on assets as the way to go and it should be not in the hands of government. If Government teaches any lesson than it is this: they are the biggest counterfeiter crooks around and have always fucked us with money. Take away the honor of living up to your word, take away the accountability, and what do you get? the world of today. Trust is an interpersonal quality way undervalued.
I had a lot I wanted to reply to you with, but I got cut short for time.
Agree on NFT. But this is still early days, looks like the current form of NFTs is just to warm people to the idea of digital property ownership. True, practical use-case NFTs I see coming down the line.
Agree on gold/silver/asset-backed crypto. Though I don't think backing a coin with gold/silver is the best solution in the present age: still risk of centralisation & manipulation. Would like to see a novel answer to that problem (a different kind of asset backing).
Still believe in privacy coins. Was naive to it in the beginning (around 2016, which I now see as the death of bitcoin and corruption coming into the space), but learning and re-learning and making it to here, I see its value. Still its success hinges on how the internet situation plays out, so we'll see. If anything it'll be a short-medium term window of opportunity to make some big bucks and go fully offline like I said earlier.
Price discovery will happen. I see it when there is absolutely no confidence left in the us dollar. Which they've somehow amazingly have been keeping alive with all of these "events". but clearly its nearing the breaking point. unless something completely out of left field emerges to prolong the dollar a little bit more.
From a practical point of view, when looking to the past ( nothing new under the sun) two examples stand out: Templar banking system and the Amsterdam Exchange bank. Or the Haladawar may serve as an example too.
In both cases it was a simple straight forward process. You would simply go to such a banker, Depot your assets and you would receive a written note or notes in a certain weight of gold/ silver, and go about your business. It is basically a cashier system.
True, it is somewhat centralized as the cashier function is done by one in 100.000 or so.
On the other hand there really is nothing to preclude anyone from creating their own currency. Assayers and auditors are functions of all ages. There are ways to enhance trust.
What I notice is the push for trustless. I think philosophically, and morally, it is a degrading issue. It is the man of his word that breeds success.
For a parallel functioning economy trust is essential. Gold/silver and crypto, especially the anonymous kind are made to be paired.
However, the biggest threat to such a system is the current system. By price manipulation they could out-spent anyone.
So, this fiat currency counter fitting system must end, and that right needs to be taken away from them.
Personally, I choose to get paid in silver/gold and it is really nice to do so. The people I speak to are amazed such a thing can be done. It is not going very fast in terms of growth, but the response I see is people feel better being paid in value than being paid in something arbitrary.
Crossover is still not feasible, cause we need decentralized energy production. ( Working on it) once that happens, ...
You hear this every single bear market. Rinse repeat.
If I had a Satoshi (btc units of measure) for every article written claiming cryptocurrencies are dead, a scam, a Ponzi scheme, I’d have many bitcoins and filthy rich. And I wouldn’t be buying any doge, @ashlanddog ( the coin of the dog in your profile which you seemingly know nothing about).
no. banks where holding it. financial crisis is coming and they are using it to stabilize as long as possible. this is also some stupid world bank to stop countries from leaving the plantation of the central Bank. banks have a lot of it and are dumping it. there was a 30 second high speed crash that dropped btc to 8k a while ago. that's the floor. so there is a weakness in it. also, they killed some people a stole a shit ton from them.
so, is crypto a scam... it's on par with the USD but will out live the USD.
Buy the FUD!
There are lots of scams in the world. Some for really stupid people like the Nigerian Prince scam or the gift card scam. Then there are scams for smart people like Enron and others like that. You can be sure there are scams for really smart people. Is Bitcoin a scam? I'm not smart enough to say, are you?
maybe, today was a blood bath, also the NFT market is dying a rapid death
The bullshit ape and other NFT useless SHIT is what’s going to die. They were laundering money through those NFT’s in my opinion…… Music, Gaming, physical NFT’s and much much more will be the future without a doubt
agreed