WaPo gift article - no paywall
Makes sense, considering cryptobros seem to want “get rich easy” and the orange dumpster fire certainly panders to that demographic.
Confirming that Bitcoin is a scam.
much of crypto is a scam…bitcoin is not. blackrock and fidelity are just two companies who are heavily invested in its success. the media shouldn’t portray bitcoin along with other crypto, but it does. it’s too bad.
Sorry, Bitcoin is a scam. Blockchain technology is not a scam, but 99% are simply because they have little to no utility; their value is entirely speculative. Bitcoin is not anonymous, transactions take forever, are more expensive than banks (for transferring normal sums of money), and the energy required to secure the network is a non-starter. It’s like calling a Model-T the best car ever made. Monero is the best cryptocurrency implementation so far, because it is the opposite of all of Bitcoin’s failures I just listed — that’s why governments around the world are trying to delist and outlaw it, and block institutional investment in it.
- it’s pseudo anonymous and that doesn’t make it a scam. it actually is a great way to track transactions and protect privacy at the same time.
2.transactions take about 8-10 mins… this makes it a better store of value than spending cash. However, this has been remedied with a 2nd layer application called Lightning Network. And again, this doesnt make it a scam.
- more expensive for some, less for others. for instance, it is a very cheap way to transfer money overseas like for many immigrants who support their families in their native country. where Western Union would take a large cut just to move the money, Bitcoin accomplishes the same exact thing, for pennies.
Maybe you mean you just don’t like Bitcoin? That’s fair, doesn’t make it a scam. Maybe you prefer more anonymous cryptos like monero? That’s fair also, still doesn’t make Bitcoin a scam.
Personally I prefer Bitcoin because it’s decentralized. Nobody owns it or controls it. The people closest to the money printer don’t have an advantage over the common people who save in it. Not to mention you aren’t surrendering your purchasing power to the government via inflation.
You missed the biggest points, it has no utility and its value is entirely speculative.
Secure time stamps
It’s not “decentralized.” That’s a buzzword. Anyone buying into that after all these years is a fool.
except it actually is decentralized. anybody can run a node and contribute and the network adjusts to how many people are contributing.
calling it a “buzzword” and calling people “fools” or whatever doesn’t change this fact.
Things aren’t scams just because they aren’t efficient or really good.
Dunning Kruger effect is big in this one.
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And crypto bros spent the last decade hoarding bitcoin as a means to decentralize the currency, only to shill for next coming of Nazi dictatorship
Cognitive dissonance is strong among cryptofascists
That’s not what cryptofascist meannnnnnsssss
On the other hand, the old kind stopped hiding and just became regular fascists.
He can’t even pander all that well. When he spoke to them, he ended his speech with this
“Have a good time with your bitcoin and your crypto and everything else that you’re playing with”
If you ever needed more proof that all crypto is a scam…Trump is pushing it, so…scam.
Cryptocurrency scams, Trump scams… They belong together.
Can’t wait for them to lose all their money
This is all Dems signing this. It’s not only Republicans who are finally realizing the value of sound money. At this point, if you are anti-crypto, you need to somehow be against the only two political parties, who would have guessed. Not to mention RFK saying if he were in the White House, then the US would be trying to amass 20% of the Bitcoin supply.
Maybe just take a step back and breathe bro.
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Instead of a PDF, maybe link to an official source to the totally real PDF you sent?
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Think more critically about the propaganda you’re parroting.
Bitcoin is not decentralized or private; these are just buzzwords. BTC belongs to either the whales hoarding BTC (like the financial firms you mentioned in another post) or to the handful of large miners who contribute most of the hashing power. This is the definition of centralization.
If you buy 100$ of BTC right now, or out your computer to mine, you have 0 control of the network (controlled by miners) or the value of your money (which can be manipulated by whales). But sure, “take back control” of your money (and lose FDIC insurance) by storing your money in BTC.
If I have to explain why a Public, Immutable ledger is NOT private or secret… Idk what to tell you. It’s in the white paper, that I’m sure you read.
Bitcoin is not a store of value. Because it… Doesn’t store value? No one is saving their rent in Bitcoin if there is a non 0% chance that by the end of the month you won’t actually have enough money because the SPECULATIVE value of BTC went down. This is, again, just a buzzword.
Finally. If “The loser with a brain worm that is out of the presidential race said he’d try to amass 20% of the world’s Bitcoin if he won, trust me bro .” is the best argument you can make for Bitcoin… Yeah, that checks out.
TL&DR: You’re thinking of Monero and have a lot to learn about how money and politics work, but you’re too deep in the BTC shill camp to realize.
Montero also has a public immutable ledger, is subject to market price manipulation by whales, and mining is easily centralized if it becomes prevalent.
if you like crypto, Bitcoin is best, or maybe doge coin, but I think doge coin needs another round of heavy inflation
Lol.
this is not a rebuttal, but an appeal to ridicule
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You’re right. I was overwhelmed by your staggering ignorance. Lol.
