If crypto had pivoted to freedom and prioritized mass-adoption, it would have been great. Instead, almost everyone who invested got more people to buy in, dumped it, and got their payday. So yes, very much like capitalism.
Comment on Linux Inventor Says He Doesn’t Believe in Crypto
xenspidey@lemmy.zip 4 months ago
Right, his talk about how he’s not very good at computers is pretty funny. I don’t understand the crypto hate on Lemmy. Although I guess I don’t understand a lot of why things are hated here. I guess crypto is too close to capitalism maybe? Freedom is frowned upon here.
Empricorn@feddit.nl 4 months ago
db2@lemmy.world 4 months ago
Shitcoins yes, bitcoin no. If you fell for Craig Wright’s scams you’d fall for any other kind of scam also.
Dudewitbow@lemmy.zip 4 months ago
the idea of crypto on its not bad on its own, its just there are a lot of bad actors agressively trying to prop up the value of some arbitrary crypto without actually selling a good or service in order to make a quick buck.
at least teams like the one behind Axie Infinity offered a product/service. Most don’t, which is the problem.
Ciderpunk@lemmy.world 4 months ago
Crypto is hated because it’s an MLM terminally online people.
It gains value because people want it and people want it because it gains value is both a perfect description of cryptocurrency and scams.
SchmidtGenetics@lemmy.world 4 months ago
Or gold, or any other precious metal, or currency for that matter….
Ciderpunk@lemmy.world 4 months ago
Tangible items can have utility in the real world, where cryptocurrencies can never be anything more than numbers on a display.
Gold can be used in electronics, and I get that people are mad that currencies are just something we all mutually agree have value, but generally speaking powerful governments back those up. Cryptocurrency is backed up by people promising it’s totally gonna be a real currency any second now. Please ignore that crypto can wildly fluctuate in value which generally a horrible thing for a currency to do.
SchmidtGenetics@lemmy.world 4 months ago
Haven’t multiple govnements accepted it as real currency at this point? The arguments are valid, but fall flat when you actually look into each.