I hate the word "inventor"
this post was submitted on 20 May 2024
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Holy shit, the crypto bros are really triggered by this, out in full force in the comments. If the only argument you can bring for crypto is that you make/made money on it, that sounds a lot like a Ponzi scheme
It is a Ponzi scheme. Very clearly one. How that garbage is legal, I will never know. I could have gotten into crypto from the ground floor eons ago and made tons of money but I didn't because I knew it was illegal and figured the whole thing was going to collapse as soon as governments found out about it. Imagine my shock when most legitimized the damn thing. Still wouldn't bother even if I could go back and do it again knowing the brain dead, money-greedy idiots are going to legalize a literal Ponzi scheme because I have values and morals.
Yeah, it's relatively easy to make good money in crypto if you understand investing. There are a lot of things that are illegal in regulated securities markets that are not yet illegal with crypto.
I intentionally don't invest in crypto, because it doesn't produce anything. Any money you make is just taken from another investor, usually because they don't know what they're doing. When you invest in a company, you make products and sell them to customers. Something is created and rarely are people cheated.
The people investing in crypto are intentionally cheating uninformed investors in a way that is not possible in regulated securities markets.
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Fully agree. I think there exist both good and scammy-bubble types of blockchain and crypto. Crypto can be a scam, memecoin rugpull, ponzi scheme, ..etc, but it can also be the peer-2-peer decentrilized self-custody borderless international currency of people away from governments manipulation, inflation, banks and middlemen, which is something that has its own advantages and negatives as we've seen it with criminals, tax evation and money laundering, but also used by people fleeing war zones after their banking come down and escaping trumbling government fiats. However, it also needs regulations and the protections of world governments to work but also claims to want governments and regulations off.
To clarify my position honestly, I think blockchain programming is here to stay but today 99% of it including BTC could be the scammy bubble type and does not represent or have most of the therotical advantages of the bitcoin's original white paper which I listed above.
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