It’s a decentralized pyramid scheme. It’s a way for the rich to syphon money from the gullible and gambling addicts.
That’s all there is to it, it’s not really hard to understand.
The issue is the new(er) generations think they have discovered something never seen before, all the while truth being - the only new thing is the way people are being manipulated into investing in trickster scheme.
Ladies and gentlemen, we have been there when internet was born. We have witnessed it and we have learned from our mistakes. It is not you who are smarter, it is us knowing not to buy tulips.
May I interest you in renting this fine pineapple?
Intellectually I know that all currency systems are constructs and are volatile. That said, what bothers me so much about crypto is how it’s either an obvious scam or it appears to behave like company scrip requiring various exchanges or participating vendors, etc. It’s annoying enough using credit cards or systems like PayPal cash app, and crypto reads like a more annoying PayPal with all of the instability of a stock.
I rarely place much value on authority, but I trust a central bank or national treasury much more than three dudes at a startup promising to disrupt how we think of money.
It’s a decentralized pyramid scheme. It’s a way for the rich to syphon money from the gullible and gambling addicts.
That’s all there is to it, it’s not really hard to understand.
THIS. This is not being communicated enough.
The issue is the new(er) generations think they have discovered something never seen before, all the while truth being - the only new thing is the way people are being manipulated into investing in trickster scheme.
Ladies and gentlemen, we have been there when internet was born. We have witnessed it and we have learned from our mistakes. It is not you who are smarter, it is us knowing not to buy tulips.
May I interest you in renting this fine pineapple?
Intellectually I know that all currency systems are constructs and are volatile. That said, what bothers me so much about crypto is how it’s either an obvious scam or it appears to behave like company scrip requiring various exchanges or participating vendors, etc. It’s annoying enough using credit cards or systems like PayPal cash app, and crypto reads like a more annoying PayPal with all of the instability of a stock.
I rarely place much value on authority, but I trust a central bank or national treasury much more than three dudes at a startup promising to disrupt how we think of money.
I thought you were talking about NFTs for a moment there