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Why cryptocurrency and NFTs are horrible (lemmygrad.ml)

submitted 4 months ago by [email protected] to c/[email protected]

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First of all, the hype of different blockchains has garnered attention. People who fall into the hype hasn't learned about the financial literacy and the risks of investing into those.

When Axie Infinity became popular in my country, influencers have started promoting the game and so-called scholarship, which is to refer to a new player. Within a few months of playing, people lost money. Influencers haven't spoken about the players losing money.

Remember, investment into such blockchains carries a risk. Those are called the digital Ponzi scheme by some people.

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[–] [email protected] 0 points 4 months ago (10 children)

There are so many more, especially "boring" ones like official documents, research, and medical records

I doubt this. With crypto, the ledger needs to be repeated multiple multiple times, it's incredibly wasteful. There's no improvement over a central server.

[–] [email protected] 0 points 4 months ago (9 children)

I think it’s super dangerous to take the developers’ word on their product. Probably it’s literally POS, but I’m not gonna believe all the hype without a disinterested confirmation.

If you believe a coin on the scale of Ethereum can lie about whether it's proof of stake or work, you have no idea what you're talking about.

[–] [email protected] 0 points 4 months ago (5 children)

Rule1: No capitalist apologia / anti-communism.

Rule 3: Be respectful. This is a safe space where all comrades should feel welcome; this includes a warning against uncritical sectarianism.

[–] [email protected] 0 points 4 months ago (1 children)

It's capitalist apologia when I correct you on something? Give me a break.

I stand by my original tone, I stated that you have no idea what you're talking about, which is true, without attacking you with names, expletives etc.

[–] [email protected] 0 points 4 months ago (1 children)

Defending a capitalist projects without evidence or justification is pretty much capitalist apologia.

If you believe a coin on the scale of Ethereum can lie about whether it's proof of stake or work, you have no idea what you're talking about.

I didn't say that they lied about pos. I said it's probably pos but we needn't take them on they word about everything, and you're continuing to insist I said that. And being "you have no idea what you're talking about".

[–] [email protected] 0 points 4 months ago (1 children)

You didn't downright say that they lie about being PoS, but you said that a third party must confirm it, which is an equally bonkers statement. You can check my reply to the other commenter for a small explanation on why that's true.

[–] [email protected] 0 points 4 months ago (1 children)

I think it’s super dangerous to take the developers’ word on their product. Probably it’s literally POS, but I’m not gonna believe all the hype without a disinterested confirmation.

Asking for second party to confirm something is "equally bonkers". Great job with the ableist slut. Comrade, you went to personal insults after the first comment.

[–] [email protected] 0 points 4 months ago

you're asking a third party to confirm the equivalent of 'water is wet'

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