Also, most cryptos have state of the art programming. They have to, because any little hole or vulnerability puts millions or billions of dollars at risk.
There’s no lowest bidder here, how’d you even come up with that?
People employed in crypto are usually very well paid, because they have to be good at their jobs.
The absolute majority of cryptocurrencies is fully open source.
Seriously man, educate yourself before spitting nonsense.
Edit: I’d appreciate if anyone downvoting me provided their reasons for doing so, preferably with sources to back them up. I’m happy to provide examples to back my arguments up if requested.
Have you heard of Indian call centers? Let’s ban phones, let’s ban email, let’s ban gift cards, let’s ban bank accounts.
The fact that the technology is also being used to scam people doesn’t mean that the whole thing is bad. There are numerous use cases beyond illegal activity, and you focusing on a tiny fraction of the whole thing just shows that you don’t actually want to understand, but that hate is your only way of expressing, that you don’t understand it.
Here, read up. They’ve got studies and sources for their claims.
It may seem like it, but it sure isn’t like it. You’ll obviously hear about the bad and nothing about 5he good, unfortunately that’s how media works nowadays.
Do you want to elaborate on those issues that are unacceptable and unfixable? I’m not saying there aren’t any, but you’re describing a trade-off, and crypto isn’t the only thing in the world with trade-offs.
Fiat is a great example - conveniet, nice, until it starts hyperinflating, until people use it to fund wars, until the government confiscates it because you insulted a politician on Twitter.
From scams to just cyber attacks with no safe guards would make everything impossible to handle. There is no bank covering you or insurance. People dying, losing keys etc drive deflation. BTC/Mining coins are destined to die. Maybe there is something there, but it certainly isn’t finance.
Inflation is necessary for multiple reasons, but you can read on that yourself. Such as; what would happen if everyone considered holding to money an investment? IMO these facts make Fiat sound so much better…
You’re free to hold your crypto on an exchange, you’re free to buy a hardware wallet and do your due diligence when confirming transactions, you’re free to create a multisig for your coins and tokens to introduce multiple factors for signing.
But it’s your choice.
people dying, losing keys
That’s on them, it’s like stuffing money into a mattress and not telling your family.
mining coins are destined to die
Mining’s not great for sure, but “destined to die” makes no sense.
Inflation is necessary so that people spend the thing
That’s kinda funny, because in the case of Ethereum, the deflation comes from people using and spending Eth on gas.
I’m also not saying that Ethereum is the perfect currency to replace fiat, the utility there comes from everything that’s built on top of it.
Widen your horizon, crypto isn’t just a medium for payments.
Hardware wallets are safe, multisigs are safe. You can be safe if you put in the effort. If you don’t want to do it, that’s your call, doesn’t mean the system sucks.
Yeah difficulty is adjusted depending on how many “devices” (simply put) are mining, the target is a specific blocktime.
What’s gonna kill bitcoin is the ever decreasing issuance, but that’s not the problem of crypto nor mining for that matter, just bitcoin.
Have you skimmed over the point that I think that Ethereum (one of the few sustainably deflating cryptos) isn’t just a currency but also a base for other things that may also serve as a currency?
Also, it’s not bad for the currency itself, just for the economy around it. And again, I’m not saying Ethereum should replace the dollar.
It’s an exchange where you can exchange a token of the same name (their token). The primary purpose is not for that token, it’s mainly known for being an exchange.
Yeah, you hear about the things that go wrong and not about the ones that don’t.
I’m not saying everything is perfect, obviously it isn’t, but the people on here are talking about how incredibly shit it is without any redeeming qualities, which just simply isn’t true. It’s harder to prove a negative (that things aren’t bad), especially since nobody’s gonna write a “no protocol got hacked today, $x billion is safe” article.
It’s an exchange, not a cryptocurrency.
Check your facts before you start the hate train.
Also, most cryptos have state of the art programming. They have to, because any little hole or vulnerability puts millions or billions of dollars at risk.
Ah yes, the most secure code possible: brand new, closed-source, and written by the lowest bidder.
If you’re talking about the exchanges, sure. If you’re talking about crypto, all of the major cryptos are open source.
There’s no lowest bidder here, how’d you even come up with that?
People employed in crypto are usually very well paid, because they have to be good at their jobs.
The absolute majority of cryptocurrencies is fully open source.
Seriously man, educate yourself before spitting nonsense.
Edit: I’d appreciate if anyone downvoting me provided their reasons for doing so, preferably with sources to back them up. I’m happy to provide examples to back my arguments up if requested.
Website: “915 days in a year”, you: “they are well paid and good at their job”. Anyone seeing your comment: 🤨
Anyone reading the thread would understand that I’m talking about crypto, not exchanges.
Well done though, peak comedy
State of the art programming, all with the goal of scamming people.
Crypto programmers don’t “have” to do anything because they are working on an illegitimate, unregulated security.
Have you heard of Indian call centers? Let’s ban phones, let’s ban email, let’s ban gift cards, let’s ban bank accounts.
The fact that the technology is also being used to scam people doesn’t mean that the whole thing is bad. There are numerous use cases beyond illegal activity, and you focusing on a tiny fraction of the whole thing just shows that you don’t actually want to understand, but that hate is your only way of expressing, that you don’t understand it.
Here, read up. They’ve got studies and sources for their claims.
Scam call centers are illegal and get shut down often. Great example if you want to somehow convince people that crypto isn’t a scam.
I think they meant call centers in general, for legal sales.No they didn’t I’m wrongSo you’re saying that scamming through crypto isn’t illegal and that the people behind it don’t get caught?
You’re comparing apples and oranges, it doesn’t work like that.
Crypto is the “phone” or “email” from my example, it’s just a medium.
So yeah, good job showing you don’t understand how it works
What’s your endgame here, you need us to buy shitcoins you lost money on or something?
Nice, well done, let’s attack me personally instead of having a conversation. That will get you far in life.
You feel attacked because you lost money on crypto scams? That sucks.
I feel attacked because you attacked my integrity instead of trying to have a useful conversation.
That’s fine though, people are scared of things they don’t understand, that’s a well known fact.
Have fun falling behind
Last time I checked all of those had real world value before the scams started.
For cryptos, it seems to be the other way around. They are trying to solve issues at the cost of having issues that are unacceptable and unfixable.
It’s Not About the Technology, It’s About the Money
It may seem like it, but it sure isn’t like it. You’ll obviously hear about the bad and nothing about 5he good, unfortunately that’s how media works nowadays.
Do you want to elaborate on those issues that are unacceptable and unfixable? I’m not saying there aren’t any, but you’re describing a trade-off, and crypto isn’t the only thing in the world with trade-offs.
Fiat is a great example - conveniet, nice, until it starts hyperinflating, until people use it to fund wars, until the government confiscates it because you insulted a politician on Twitter.
From scams to just cyber attacks with no safe guards would make everything impossible to handle. There is no bank covering you or insurance. People dying, losing keys etc drive deflation. BTC/Mining coins are destined to die. Maybe there is something there, but it certainly isn’t finance.
Inflation is necessary for multiple reasons, but you can read on that yourself. Such as; what would happen if everyone considered holding to money an investment? IMO these facts make Fiat sound so much better…
That’s the point.jpg
You’re free to hold your crypto on an exchange, you’re free to buy a hardware wallet and do your due diligence when confirming transactions, you’re free to create a multisig for your coins and tokens to introduce multiple factors for signing.
But it’s your choice.
That’s on them, it’s like stuffing money into a mattress and not telling your family.
Mining’s not great for sure, but “destined to die” makes no sense.
That’s kinda funny, because in the case of Ethereum, the deflation comes from people using and spending Eth on gas.
I’m also not saying that Ethereum is the perfect currency to replace fiat, the utility there comes from everything that’s built on top of it.
Widen your horizon, crypto isn’t just a medium for payments.
That is the problem. 1 Fuck up and your money is gone. Whether that is someone else, you, CVE, it’s gone and everyone elses in that network.
By death I was wrong; Difficulty wont kill a coin. Though that then has other issues.
I doubt you understand how bad deflation is for a currency, or you are in this for the money?
Hardware wallets are safe, multisigs are safe. You can be safe if you put in the effort. If you don’t want to do it, that’s your call, doesn’t mean the system sucks.
Yeah difficulty is adjusted depending on how many “devices” (simply put) are mining, the target is a specific blocktime.
What’s gonna kill bitcoin is the ever decreasing issuance, but that’s not the problem of crypto nor mining for that matter, just bitcoin.
Have you skimmed over the point that I think that Ethereum (one of the few sustainably deflating cryptos) isn’t just a currency but also a base for other things that may also serve as a currency?
Also, it’s not bad for the currency itself, just for the economy around it. And again, I’m not saying Ethereum should replace the dollar.
It’s an exchange for a cryptocurrency of the same name I did my homework
It’s an exchange where you can exchange a token of the same name (their token). The primary purpose is not for that token, it’s mainly known for being an exchange.
You’d get an F then mate.
The fact that they have a token is in no way relevant to the fact that we’re talking about an exchange here.
I dunno, been seeing quite a few posts from https://indieweb.social/@web3isgreat that do kind of give a bad impression…
Yeah, you hear about the things that go wrong and not about the ones that don’t.
I’m not saying everything is perfect, obviously it isn’t, but the people on here are talking about how incredibly shit it is without any redeeming qualities, which just simply isn’t true. It’s harder to prove a negative (that things aren’t bad), especially since nobody’s gonna write a “no protocol got hacked today, $x billion is safe” article.
My general problem with cryptocurrency is their environmental impact / resource usage compared to traditional payment systems.
It’s a problem that’s being solved. Bitcoin will probably suck in this regard forever, but Ethereum for example has migrated over to a much environmentally friendlier system.
Growing pains, but I think that we’re on a good path going forward.