by Anarcho-Pepeism » Wed May 19, 2021 8:11 am
by Ifreann » Wed May 19, 2021 8:28 am
by Anarcho-Pepeism » Wed May 19, 2021 8:35 am
Ifreann wrote:Cryptocurrencies are bad and we should stop allowing them.
by Nilokeras » Wed May 19, 2021 8:38 am
by Washington Resistance Army » Wed May 19, 2021 8:39 am
Nilokeras wrote:A true morbid symptom of the decay of capitalism. A speculative bauble that fails at everything it accomplishes to do, from its aims of being a medium of exchange to being a liberatory technology, and instead exists solely as a bottomless hole through which excess capital can be poured and spent boiling the oceans through coal-powerd mathematics.
by Ifreann » Wed May 19, 2021 8:57 am
by United States of Americanas » Wed May 19, 2021 9:02 am
Ifreann wrote:Anarcho-Pepeism wrote:And why is that?
Basically what Nilokeras said. Cryptocurrencies are just a way for a few people to turn some money into more money, and for rather more people to turn some money into no money, all at an ever-growing cost to the environment. There's no possibility of anything useful coming from it.
by Untecna » Wed May 19, 2021 9:02 am
Ifreann wrote:Anarcho-Pepeism wrote:And why is that?
Basically what Nilokeras said. Cryptocurrencies are just a way for a few people to turn some money into more money, and for rather more people to turn some money into no money, all at an ever-growing cost to the environment. There's no possibility of anything useful coming from it.
by Nilokeras » Wed May 19, 2021 9:08 am
United States of Americanas wrote:Even if you have a collapse in value you still get interest earning on staking currency and Ethereum2 and other newer cryptos/renewable energy will solve your energy issue.
Do your reading. This is a liquidation of big whales, lots of people wanted to jump off and buy their yachts now it's time for the next generation to get their yachts.
Untecna wrote:You could say the same for stocks.
by Untecna » Wed May 19, 2021 9:13 am
Nilokeras wrote:United States of Americanas wrote:Even if you have a collapse in value you still get interest earning on staking currency and Ethereum2 and other newer cryptos/renewable energy will solve your energy issue.
Do your reading. This is a liquidation of big whales, lots of people wanted to jump off and buy their yachts now it's time for the next generation to get their yachts.
This is pure word salad. Means nothing, conveys no information, does not address the critiques raised at all.Untecna wrote:You could say the same for stocks.
Yep. They're casino tokens. The contradiction is just highest here because unlike with stocks in companies, which are abstractions of the productive capacity of those companies, cryptocurrencies are tied to nothing productive except for the energetic cost of running it. Which is a self-justifying and nihilistic loop.
by Nilokeras » Wed May 19, 2021 9:19 am
Untecna wrote:I think you should also read the rest of my post.
Untecna wrote:And maybe do some research while you're at.
by Ifreann » Wed May 19, 2021 9:19 am
United States of Americanas wrote:Ifreann wrote:Basically what Nilokeras said. Cryptocurrencies are just a way for a few people to turn some money into more money, and for rather more people to turn some money into no money, all at an ever-growing cost to the environment. There's no possibility of anything useful coming from it.
Said the people on a forum who probably know little about crypto.
“Crypto is bad and we should ban it” made me laugh and is why I am responding to this.
Even if you have a collapse in value you still get interest earning on staking currency and Ethereum2 and other newer cryptos/renewable energy will solve your energy issue.
Do your reading. This is a liquidation of big whales, lots of people wanted to jump off and buy their yachts now it's time for the next generation to get their yachts.
If you invest in nothing you lose more than if you invest in something and just don't sell it.
by Untecna » Wed May 19, 2021 9:23 am
Nilokeras wrote:Untecna wrote:I think you should also read the rest of my post.
I did read it. It wasn't worth addressing. Cryptocurrencies have failed to be a useful means of transactions - they are now a pure speculatory bauble.Untecna wrote:And maybe do some research while you're at.
A feeble response from someone who clearly has no counters to the critiques raised, and is instead appealing to me to go and do the work to convince myself of your position.
by Ifreann » Wed May 19, 2021 9:29 am
Untecna wrote:Ifreann wrote:Basically what Nilokeras said. Cryptocurrencies are just a way for a few people to turn some money into more money, and for rather more people to turn some money into no money, all at an ever-growing cost to the environment. There's no possibility of anything useful coming from it.
You could say the same for stocks.
And other things, I'm sure.
I think that cryptocurrencies are an interesting concept, what with them not consisting of physical currency, and the fact that they can be used to purchase items and services.
Perhaps even a bright future lays beyond with crypto.
by Ifreann » Wed May 19, 2021 9:35 am
Untecna wrote:Nilokeras wrote:
I did read it. It wasn't worth addressing. Cryptocurrencies have failed to be a useful means of transactions - they are now a pure speculatory bauble.
A feeble response from someone who clearly has no counters to the critiques raised, and is instead appealing to me to go and do the work to convince myself of your position.
It's still an exciting part of our world, right? Investment is one tiny part of our society, but it still has lots of meaning with it, and lots of attention behind it. It's also available, people can purchase these currencies and become millionaires. The pros outweigh the cons, in my opinion.
Besides, you aren't convincing me of anything else with your current posts.
by An Alan Smithee Nation » Wed May 19, 2021 9:36 am
by Untecna » Wed May 19, 2021 9:40 am
Ifreann wrote:Untecna wrote:It's still an exciting part of our world, right? Investment is one tiny part of our society, but it still has lots of meaning with it, and lots of attention behind it. It's also available, people can purchase these currencies and become millionaires. The pros outweigh the cons, in my opinion.
Besides, you aren't convincing me of anything else with your current posts.
Cryptocurrency mining is using enormous amounts of energy, energy which is not just come from nowhere. How much of the environment are people destroying to become millionaires? Is it worth it?
by Tsaivao » Wed May 19, 2021 9:44 am
Untecna wrote:Ifreann wrote:Cryptocurrency mining is using enormous amounts of energy, energy which is not just come from nowhere. How much of the environment are people destroying to become millionaires? Is it worth it?
So your argument is simply environmental?
Well, just make sure that the electricity is made using renewable sources of energy, like nuclear and wind and all of those others, when cryptomining.
Or just find a way to expedite green energy usage so that it only takes a few years.
I'll wait.
An Alan Smithee Nation wrote:An OP with just 4 posts and a picture of Pepe as their flag. Well damn, let me put all my money in crypto and start picking out my superyacht.
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by Ifreann » Wed May 19, 2021 9:49 am
Well, just make sure that the electricity is made using renewable sources of energy, like nuclear and wind and all of those others, when cryptomining.
Or just find a way to expedite green energy usage so that it only takes a few years.
I'll wait.
by Anarcho-Pepeism » Wed May 19, 2021 9:49 am
An Alan Smithee Nation wrote:An OP with just 4 posts and a picture of Pepe as their flag. Well damn, let me put all my money in crypto and start picking out my superyacht.
Ifreann wrote:Anarcho-Pepeism wrote:And why is that?
Basically what Nilokeras said. Cryptocurrencies are just a way for a few people to turn some money into more money, and for rather more people to turn some money into no money, all at an ever-growing cost to the environment. There's no possibility of anything useful coming from it.
by Ifreann » Wed May 19, 2021 9:54 am
Anarcho-Pepeism wrote:An Alan Smithee Nation wrote:An OP with just 4 posts and a picture of Pepe as their flag. Well damn, let me put all my money in crypto and start picking out my superyacht.
And nowhere do I advertise to buy crypto. Nice bait.Ifreann wrote:Basically what Nilokeras said. Cryptocurrencies are just a way for a few people to turn some money into more money, and for rather more people to turn some money into no money, all at an ever-growing cost to the environment. There's no possibility of anything useful coming from it.
Which is the case for a lot of different investments.
If people don't know what they are doing then yes, they might loose money. I do think it is useful for the fact that it is a finite source of monetary value, unlike say, the USD. That is, for BTC.
by Anarcho-Pepeism » Wed May 19, 2021 9:59 am
Ifreann wrote:There needs to be people losing their money in order for other people to be making money. No amount of destroyed graphics cards will ever turn into yachts without some marks buying high and selling low.
by Page » Wed May 19, 2021 10:00 am
by Anarcho-Pepeism » Wed May 19, 2021 10:04 am
Page wrote:I support crypto in principle because it subverts the authority of the state, but I think investment in it amounts to gambling and I think the devastating environmental consequences of maintaining the block chain outweigh its benefits.
I have a feeling that the governments of the world won't tolerate crypto much longer and the only reason for their minimal interference thus far is that they expect to fall apart on its own. But if it ends up stabilizing, you better believe that the state will crush it. They also want to abolish cash and the pandemic has given them a perfect opportunity to condition people to going cashless. Once there is no cash and no crypto, the state will be able to maintain a list of everything you buy. Not only will they sell this data to advertisers, they will probably start doing things like charging more for health care for people who eat fast food, smoke, drink, etc. And soon will come a time employers can demand to see their employees' purchase list. And if you think that is crazy, may I remind you that credit reports are a thing, dystopian as fuck yet no one questions it.
The world needs crypto, it needs some nonphysical and untraceable currency, but people need to figure out how to do it without the insane energy consumption blockchain demands.
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