Comment on Please Stop

<- View Parent
merc@sh.itjust.works ⁨9⁩ ⁨months⁩ ago

but once it comes to money all that is thrown out of the window and they happily get on their knees for paypal and the few other large players.

I don’t think anybody likes paypal, Visa, Mastercard or any of the other major players. It’s just that blockchain “currencies” are much, much worse.

The idea of “Alternative Money” is a silly idea. Money has always been, and will always be connected to a state. The taxing and spending of the state is what gives money its value.

With cryptocurrencies, the “value” is only “greater fool” value. Someone is willing to pay 70k in dollars for a bitcoin because they think someone else is going to be willing to buy it from them for $71k at some point in the future. If it were a legitimate currency people wouldn’t bother checking its value in dollars because it would be useful in its own right. The only legitimate demand for cryptocurrencies is to pay ransom, and even then, the people who get the ransom immediately transform it back to a useful “fiat” currency.

Lemmy users are knowledgeable about open source, privacy, digital rights and knowledgeable enough to know that cryptocurrencies are a scam.

source
Sort:hotnewtop