Comment on Binance users pull over $1 billion from the exchange after CEO leaves, pleads guilty
photonic_sorcerer@lemmy.dbzer0.com 10 months ago
Who could’ve ever seen this coming? Who could’ve known that crypto is a sham?
Oh, wait. Yeah, that’s right, almost everybody. If you lost money in this, that’s on you.
FTFY: Who could’ve ever seen this coming? Who could’ve known that capitalism is a sham?
Oh, wait. Money’s merely a social construct, a game where we all agree that paper and coins mean something. If you missed that every profit chase is rigged with the same set of skewed rules, that’s on you.
DetectiveKakuna@lemmy.world 10 months ago
If you actually read the article and now the headline you would recognize that this has nothing to do with the legitimacy of cryptocurrency and everything to money laundering. All monetary value is imaginary after we got off the gold standard, so how are currencies controlled by global governments any less of a sham than crypto that is decentralized and not obfuscated by central banks?
Also if you lost money trading this news then I agree, that’s on you. The total crypto market cap is valued higher today than before this news broke in the past 24 hours so if you sold on this news you only have yourself to blame 😂😂😂
realharo@lemm.ee 10 months ago
Well the practical difference is that money is something people actually use, where as crypto is mostly something they just hope to resell later to a higher bidder.
stifle867@programming.dev 10 months ago
Oh people definitely use crypto all right! That’s why they had to pay $4.6B to settle a money laundering case.
thenightisdark@lemmy.world 10 months ago
" crypto is mostly something they just hope to resell later to a higher bidder"
Unfortunately this is not true. It was getting used for money laundering, which is not reselling to the highest bidder. The proof is in the fact that they payed the fine.
Otherwise what was the fine for?
Thetimefarm@lemm.ee 10 months ago
Honestly all value is relative, even the gold standard is fairly arbitrary. If you’re stuck in the desert with 100kg of gold bars you’d trade them for a gallon of water in a heart beat. That’s basically how the american healthcare system works lol.
stifle867@programming.dev 10 months ago
Arbitrary vs imaginary are distinctly different. You’re both right but talking about different things.