'Blockchain' has been the excuse for VCs and 'crypto companies' (ie scammers) to fraudulently sell tokens to retail investors, in a common enterprise, with the expectation of profit, based on the efforts of others. In other words, in an investment contract violating US securities laws. (That's why the SEC is suing them all).
'Blockchain' and 'crypto' is literally about creating endless supplies of tokens - worthless, often centrally-controlled useless tokens to sell to retail noobs... promising them that they can 'strike it rich' if they just buy at the right time.
These endless tokens on a 'blockchain' accomplish nothing and produce absolutely nothing... they aren't 'money' they aren't 'creating new technologies' they just 'go up'. They're not used even tangentially in 'real transactions'... sending, receiving, and holding... they're just traded to get more dollars on exchanges. Nobody really wants these things they're just excuses to trade to 'strike it rich' at the right time... while providing ZERO investor protections or transparencies, violating US securities laws.
These tokens and 'blockchains' have confused the public, given ammunition to regulators, and distracted people from proof of work and decentralization - Bitcoin's most important attributes. They've helped delay Bitcoin's MoE revolution, while promising investors huge returns actually resulting in... gargantuan losses. 'Crypto' is 99% worthless and goes to zero in Bitcoin terms over a long enough time period.
'Crypto' and 'Blockchain' have plenty of regulatory clarity - these tokens need to be de-listed and kicked out of the United States by the SEC for securities violations. THEN and only then can the Bitcoin/sound money/decentralized proof-of work revolution really catch on with the public.
The 'blockchain'/'crypto' scam following Bitcoin should never have happened.
Chaos is good for real, future growth out of the Marxist, NWO hell that has occupied the West!
Those who are at the zenith of their shitty, delusional fiat trajectories will end up at the very bottom, those who remained sane will do well, as long as they survive the next few years...
This is how I view both nations & individuals after 2020 happened!
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105 sats \ 1 reply \ @kdnolan 7 Oct
It's all good for Bitcoin in the end 🍻
What is supper annoying about the whole journey though is John McAfee was arrested for promoting XMR + whatever else... and Elon Musk gets away with promoting Dogecoin and Shib. 🤷‍♂️
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the elon musk dogecoin thing doesn't make any sense to me
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21 sats \ 1 reply \ @Thereal 7 Oct
The last statement is the best because it summarizes the chaos 👏🏿
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thank you. it is a remarkable, if unfortunate situation.
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99% is generous. More like 99.9%
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Listen this episode of "Hacked" podcast Number Go Up: A Conversation with Author Zeke Faux https://pod.link/1049420219/episode/2cebc5ebb59ea59a3320284b8f9735ed
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I totally agree with you, it is also a phenomenon that is growing more and more. Bitcoin is the solution
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Bitcoin is far from perfect. But it is currently the best practical solution available (to better money) in my opinion.
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Good evening!
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true
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Yes but when people see a way to make easy money they will take it
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people will not get rich buying buying tokens. they will get wrecked
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Yes but they think they are smart and will get rich. They think they missed Bitcoin so trying to get rich off anything cheap
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I don't think they have 'missed' bitcoin. Most people don't know anything about Bitcoin. It is 1/10th the marketcap of gold after all. And in any case it doesn't work that way lol
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Yeah they definitely haven’t missed it but a lot of people think they have
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Yes, that may be true, however, it is the only way for the market to do discovery. The market is a very large discovery machine that will winnow out the useless crypto from the genuinely useful and valuable ones. People willl use their own discernment to find the right ones for themselves. Also those who wish to bear much more risk can punt on whatever they wish to try.
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i believe that's true. i also believe that reasonable regulation can help protect investors and the public too.
in developed countries we don't have to do 'discovery' on which foods in the grocery store make us sick. sure we would 'eventually' figure it out, but it's not the right process for that kind of thing.
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