Comment on Resurrecting a dead torrent tracker and finding 3 million peers

• GreenKnight23@lemmy.world ⁨16⁩ ⁨hours⁩ ago

  if you sell something for $1 at 10am your $1 still buys $1 at 10pm.

  in crypto, it’s easily manipulated, and that’s by design. it’s a scam because the only people who have that control are the wealthy.

  If I sell 1BT worth of something at 10am, it could be worth 2BT at 10pm, but it could also be worth .1BT equally.

  the purpose of a Fiat currency is economic supremacy that is backed by the governing body and the economy that uses it.

  tell me, what governing body or economy is crypto backed by?

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  • ipitco@lemmy.super.ynh.fr ⁨3⁩ ⁨hours⁩ ago

    if you sell something for $1 at 10am your $1 still buys $1 at 10pm.

    This is untrue for pretty much everything, even fiat. Everything is a market. A good example of this: stocks.

    in crypto, it’s easily manipulated, and that’s by design.

    Now this is just false. You’re just inventing fake facts here. You clearly know nothing of the history of crypto.

    If I sell 1BT worth of something at 10am, it could be worth 2BT at 10pm, but it could also be worth .1BT equally.

    Uhh no? 1 BTC will always be 1 BTC. Its value compared to other assets will change though. And in that case it would have less value indeed. You’re just allergic to high variations and high risks assets. Stocks is exactly the same. Some assets vary more than others. Let me assure you the value of BTC will never do a +/-10x in a day

    tell me, what governing body or economy is crypto backed by?

    Emission (POW, POS…) (or total stock), demand and offer and perceived value, just like everything on earth?

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  • phoenixz@lemmy.ca ⁨13⁩ ⁨hours⁩ ago

    None of that is “by design” its just the result of an unstable system. Crypto sucks for a long list of different reasons.

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    • WhyJiffie@sh.itjust.works ⁨12⁩ ⁨hours⁩ ago

      it is by design for a lot of them.

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      • phoenixz@lemmy.ca ⁨8⁩ ⁨hours⁩ ago

        The instability?

        You’re giving it too much credit, especially the altcoins that didn’t look beyond “existing”. I know, I made one like 7 years ago or so and I ain’t proud of it.

        The instability of the worth of these crypto coins is just inherent to the instability of it, and actually not that different from currency fluctuations. You don’t think the entire world works with US dollars, no?

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• Psythik@lemm.ee ⁨7⁩ ⁨hours⁩ ago

  Don’t even bother. You’ll never get through to these drones.

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  • ipitco@lemmy.super.ynh.fr ⁨4⁩ ⁨hours⁩ ago

    Wtf are you talking about

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    • Psythik@lemm.ee ⁨3⁩ ⁨hours⁩ ago

      You won’t convince anyone one here that crypto isn’t a scam. These people are set in their ways.

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      • ipitco@lemmy.super.ynh.fr ⁨2⁩ ⁨hours⁩ ago

        And stubbornly entitled

        Their uncle must’ve been rug pulled when buying a shitcoin or something and now they believe crypto is nothing but a scam

        But yea there’s nothing to do. If you can’t educate them then let them stay in their ignorance if they like it. I just don’t feel that letting them spread their misinformation is a good thing

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