Comment on Collective Shout Purge Sees Horror Games In Crosshairs

Vanilla_PuddinFudge@infosec.pub ⁨4⁩ ⁨weeks⁩ ago

• meeeeetch@lemmy.world ⁨4⁩ ⁨weeks⁩ ago

  If people had used cryptocurrency as a currency instead of as a “it’s totally not a security, we swear, even though we’re only saying that to evade SEC regulations a little longer” there’d be a lot fewer people calling it a scam.

  For sixteen years, crypto’s only use cases seemed to be buying illegal goods and securities fraud. Finally, we have another use case presenting: perfectly legal transactions that credit card companies have gotten cold feet about.

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  • Saleh@feddit.org ⁨4⁩ ⁨weeks⁩ ago

    There also has been cases where people increasingly used cryptocurrencies as their national currency was subject to instability and severe inflation. Usually the governments cracked down on it hard, like in Turkiye.

    apnews.com/…/technology-financial-markets-turkey-…

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  • Vanilla_PuddinFudge@infosec.pub ⁨4⁩ ⁨weeks⁩ ago

    If people had used cryptocurrency as a currency instead of as a “it’s totally not a security, we swear, even though we’re only saying that to evade SEC regulations a little longer” …LTC did. Monero has and is. BTC’s fall was a massive pullback on an extremely new and volatile idea that not even half the buyers entirely understood. BTC now is held up by ETF funds, private equity and everyone that cares putting a few chips in. Is it a scam now? Is everyone scamming everyone?

    …there’d be a lot fewer people calling it a scam. For sixteen years, crypto’s only use cases seemed to be buying illegal goods and securities fraud. Some would call that decentralization and freedom. Spin it however you like.

    Finally, we have another use case presenting: perfectly legal transactions that credit card companies have gotten cold feet about. They deserve every negative degree.

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  • Bronzebeard@lemmy.zip ⁨4⁩ ⁨weeks⁩ ago

    The SEC had every opportunity to make up it’s fucking mind for years, but even after repeated promptings from all the big crypto exchanges, they kept putting things off and randomly throwing lawsuits for violations for things they were asked for guidance on.

    Also, this is the exact kind of transaction they had in mind when they created the tech, but everyone decided it was only ever for drugs, because that’s what the Wall St owned media told them to think

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    • meeeeetch@lemmy.world ⁨4⁩ ⁨weeks⁩ ago

      Also, this is the exact kind of transaction they had in mind when they created the tech, but everyone decided it was only ever for drugs, because that’s what the Wall St owned media told them to think

      What were the completely legal products that had Visa and Mastercard standing on the sidelines in 2009? Because without a real life example, I don’t think big media had to do much to get people to ignore this use case at the time.

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      • Bronzebeard@lemmy.zip ⁨4⁩ ⁨weeks⁩ ago

        Some people are able to see potential problems before they happen.

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  • Vanilla_PuddinFudge@infosec.pub ⁨4⁩ ⁨weeks⁩ ago

    Not every country has a corrupt securities administration. Don’t push your third-world Americanism on others like its their problem.

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    • Warl0k3@lemmy.world ⁨4⁩ ⁨weeks⁩ ago

      Not every country has a corrupt securities administration.

      Man, imagine how nice it would be if this were true.

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  • swelter_spark@reddthat.com ⁨4⁩ ⁨weeks⁩ ago

    The only thing I’ve ever used crypto for was to buy totally legal goods and services.

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• Warl0k3@lemmy.world ⁨4⁩ ⁨weeks⁩ ago

  “Man, I don’t understand why unregulated currencies are unpopular! I’m going to dismiss the heaping mountain of examples of it being abused with no possible recourse as just people being unreasonable in their dislike! That’ll convince people!”

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  • Vanilla_PuddinFudge@infosec.pub ⁨4⁩ ⁨weeks⁩ ago

    I got robbed!

    blames the currency

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    • JustARaccoon@lemmy.world ⁨4⁩ ⁨weeks⁩ ago

      The issues are layered but the core aspect is that everyone can get scammed and banks have protections for getting your money stolen while crypto doesn’t.

      But the more visible issue is just how the unregulated aspect of it being used to scam people predominantly has marred the topic for so many people to the point where people just want to stay away from it all. If anything I think it ends up being a good example for how people need regulation and we can’t just have anarchy because people will take advantage of other people.

      To add a metaphor, sure it’s not the gun that does the killing it’s the human, but regulating how the gun gets used does help with gun deaths a lot.

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      • swelter_spark@reddthat.com ⁨4⁩ ⁨weeks⁩ ago

        The bank’s protection often looks like not being able to use your own money on things you choose because of a set of criteria you can’t see and don’t have to agree to. It’s the main reason I started using crypto to begin with.

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• ArchmageAzor@lemmy.world ⁨4⁩ ⁨weeks⁩ ago

  I don’t care what gets delisted, I’m not buying your fucking monkeys

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  • Tetsuo@jlai.lu ⁨4⁩ ⁨weeks⁩ ago

    What does it have to do with monkeys ?

    NFT is a very small subset of “Cryptos”.

    On a more serious note, you really do prefer VISA MasterCard to dictate what is to be censored or note rather than using crypto currencies ?

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    • ArchmageAzor@lemmy.world ⁨4⁩ ⁨weeks⁩ ago

      I would rather do all my online payments with direct bank transfers or even mail-in cheques than use crypto.

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      • hanrahan@slrpnk.net ⁨4⁩ ⁨weeks⁩ ago

        I’d love to see a move to somethiong like nano

        nano.org/en

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  • DragonTypeWyvern@midwest.social ⁨4⁩ ⁨weeks⁩ ago

    Yeah, I’m just going to a riot instead, like God intended

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  • hanrahan@slrpnk.net ⁨4⁩ ⁨weeks⁩ ago

    nano.org/en

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• klopstock@feddit.org ⁨4⁩ ⁨weeks⁩ ago

  I think the biggest problem is getting any crypto which usually involves an exchange which is also dependent on the payment processors you are trying to avoid

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  • Tetsuo@jlai.lu ⁨4⁩ ⁨weeks⁩ ago

    Do you think it happen randomly that payment processors are unavoidable to get crypto money ? Because it’s clearly on purpose and a way to control a market they didn’t have any leverage on.

    Still the take above of “I would rather support payment processors than Cryptos” still sound super dumb to me. People are so extreme on their assessment of technologies here. There is no nuance. AI is all bad, crypto is all bad that’s pretty much the tone here.

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    • Warl0k3@lemmy.world ⁨4⁩ ⁨weeks⁩ ago

      Until one emerges that’s even slightly stable enough to use as a secure currency (not a stablecoin…), there can never be the kind of broad adoption introducing an entire separate exchange paradigm to the global economy would require. And that’s aside from the technical requirements that aren’t met - there’s no crypto network that could even come close to handling the load put on ex: the ACH, meaning awful lag on every transaction.

      It’s just not there yet, and pretending like extreme reactions to a comment that’s both condescending and insulting to the users who disagree with you are unreasonable - or a reflection of nuanced opinions on cryptocurrencies in general- is disingenuous enough to be concerning. Surely you must see the flaws in how you’re behaving, here.

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  • swelter_spark@reddthat.com ⁨4⁩ ⁨weeks⁩ ago

    There’s also p2p sources like Bisq and Haveno.

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