[Rancid]

It's useless as a medium of exchange. Transaction fees are far too high and of course it's volatile as shit.

What is crypto good for then? Aside from a tool that can be used to scam people?

[Rugoz]

What is crypto good for then? Aside from a tool that can be used to scam people?

Blockchain is certainly here to stay, but the proof of work consensus mechanism is simply too expensive. If anything it will end up with proof of authority by central banks or similar (in the case of currencies).

[Rancid]

Blockchain is certainly here to stay, but the proof of work consensus mechanism is simply too expensive. If anything it will end up with proof of authority by central banks or similar (in the case of currencies).

Wouldn't that kill all the benefits if it's controlled by a central bank?

Sounds like crypto is doomed to stay on the margins.

[Rugoz]

Wouldn't that kill all the benefits if it's controlled by a central bank?

It will kill the libertarian fantasies

[Rancid]

It will kill the libertarian fantasies

That's a positive.

[colliric]

Wouldn't that kill all the benefits if it's controlled by a central bank?

Sounds like crypto is doomed to stay on the margins.

Nope.

In fact Crypto investors are counting on Mainstream adoption. Visa and MasterCard already began the process of incorporation.

Central banks have never been the target of Crypto currency. The Tax office is, and so is PayPal.

Options are great for everyone.

It will kill the libertarian fantasies

Incorrect, offline wallets and VPNs are here to stay.

[Rancid]

Visa and MasterCard already began the process of incorporation.

I see this as corporations getting in on the scam. Not a validation of the technology.

Fundamentally, I'm not against crypto. Still don't see how it would help me though beyond playing the trading came on crypto.

[late]

What you really need to invest in is tulips..

[Rancid]

What you really need to invest in is tulips..

What's more ridiculous thank Crypto is NTFs.

I suspect it's a bunch of rich people and scammers playing another game.

[colliric]

I see this as corporations getting in on the scam. Not a validation of the technology.

It's a validation of the technology since they will not be walking that back, ever. It will be incorporated permanently into their payment systems.

[Rancid]

It's a validation of the technology since they will not be walking that back, ever. It will be incorporated permanently into their payment systems.

It's more like a validation of cashing in on a scam. Much like robin hood taking advantage of brainless meme stock "investors".

[colliric]

It's more like a validation of cashing in on a scam. Much like robin hood taking advantage of brainless meme stock "investors".

Nah, I view it personally as being a "just in case" situation where they've clearly invested in it in case it has its "QR Code 2020 bonanza!" moment.

They've done this before with the on card chips, PayPal and paywave(or fap and go!) "options".

Seriously who invented or hold the patient for the QR code? That fucker, it finally payed off for him.

[Igor Antunov]

As I predicted (and thankfully I rug pulled two weeks ago) the crypto market is finally seeing its prescriptive nose dive. I'm now prepared to invest big when it bottoms out for more easy ~5-10x returns

[colliric]

As I predicted (and thankfully I rug pulled two weeks ago) the crypto market is finally seeing its prescriptive nose dive. I'm now prepared to invest big when it bottoms out for more easy ~5-10x returns

Dammit... Down 20%.

Hopefully $50k AUD is the new bottom.

Dogecoin is getting slammed a bit. I'm gonna buy more Bitcoin, ETH and Dogecoin.

There will be some dip buying rebounding on Monday hopefully. We were also slammed hard on Thanksgiving.

I'm still happy as fuck. I'm here for the ride.

[Igor Antunov]

Dammit... Down 20%.

Hopefully $50k AUD is the new bottom.

Dogecoin is getting slammed a bit. I'm gonna buy more Bitcoin, ETH and Dogecoin.

There will be some dip buying rebounding on Monday hopefully. We were also slammed hard on Thanksgiving.

I'm still happy as fuck. I'm here for the ride.

Yes but don't be shocked if the new bottom ends up being $5,000. You must be ready.

[colliric]

I am going to keep buying all the way.

My ASX stocks are going to get fucked too if China crashes(reason it's down... Again).



El Salvador again buying the dip.

[late]

What is crypto good for then? Aside from a tool that can be used to scam people?

The US has the world pretty much wired. We could do a lot more, in that regard, if we had the political will.

But we don't hesitate to go after offshore crooks, if their actions have a negative impact on us. Bit coin gives the crooks a way around our surveillance, and they love it.

[Rancid]

But we don't hesitate to go after offshore crooks, if their actions have a negative impact on us. Bit coin gives the crooks a way around our surveillance, and they love it.

I recall the FBI successfully stole back bitcoins that were scammed from people. I wouldn't be so sure that bitcoin prevents surveillance.

I don't see how say buying something on amazon.com with bit coin protects my privacy. Amazon still knows what I bought, and will sell that data to data brokers anyway.

[late]

I recall the FBI successfully stole back bitcoins that were scammed from people. I wouldn't be so sure that bitcoin prevents surveillance.

I don't see how say buying something on amazon.com with bit coin protects my privacy. Amazon still knows what I bought, and will sell that data to data brokers anyway.

Over 30 years ago, a smart cop figured out a way to shut the illegal drug traffic down cold. You track the money. A bunch of bankers flew to Washington and told Reagan not to do that.

The cop got reassigned to the Midwest with nothing to do.

If you have a few million bucks of cocaine profit, bitcoin gives you a way to move it to South America. It's also cheaper than using the banks...

The FBI did get back bitcoins, but it was something of a fluke.

[B0ycey]

So like fiat has been enabling for centuries?

Although it should be said that currency has a means beyond investment. And of course Bitcoins value is on speculation that someone will buy into it and as such is in essence a ponzi. We just don't seem to be running put of suckers.