The creator of Dogecoin says all crypto is a scam

[Bl00dyMinded]

The fact that USD is printed on paper and has an entire economy standing behind it's value. Crypto has yet to be printed and no one is standing behind it to protect it's value. I think you have been told this before by others and continue to ignore.

Yeah just keep printing money and increasing our debt. Let me know how that has been working out. Again, depending the coin you are behind. Many banks and companies are starting to stand behind that coin. Need an example? Let me know how Swift is doing within 5 years and how Ripple destroyed it.

 

[captaincranky]

Yeah just keep printing money and increasing our debt. Let me know how that has been working out. Again,

Another miner heard from.

Perhaps you'll take a moment to explain how, "printing money", is any different from planting strings of numbers on a computer somewhere, and proclaiming, "hey look folks, this is money"?

 

[wiyosaya]

Funny, how you argue that some would accept chicken for chairs, and propagate this as some legit form of exchange, but at the same time, countries and companies adopting and accepting Bitcoin is "not widespread enough".


Did Musk manipulate the Bitcoin blockchain?

And somehow, the technology behind crapto, block chain, has now become crapto itself? There's your equivalency argument again.

You have zero idea what you're talking about. My statement has literally nothing that implies anything remotely close to correlation equaling causation.

See above.

And you completely ignore the constant rebuttals. So something must be printed for it to have value...? Considering I have not printed your reply, your reply has no value at all.
See how that works?

And like @captaincranky said, somehow you can just plant numbers on a computer somewhere and say, gee, lookee here. It has value? See how that works?

The economy does not need the USD to operate.

Nor does the economy need block chain or crapto to operate.

Something does not need to be printable to have value. In fact, the majority of USD has never been actually printed, but are simply digital numbers on a screen. Studies indicate that 92% of the USD is digital.

"No one is standing behind Crypto".
Uhuh... I guess all those miners you all love to whine about both in terms of graphics cards and power consumption don't exist.

I'm not whining about them. I am pointing out that investing in crapto is a relative equivalent to investing in junk bonds. One day crapto is worth something. The next day, it's dropped by in "value" by some substantial proportion of what it was worth the prior day - just like a junk bond, the investment value can disappear quickly because the company that issued is has gone bankrupt - or in the case of crapto, it has lost much of its value.

All those projects being built don't exist.
And Sam Bankman-Fried doesn't exist. Yeah. Go Google him. I know you don't know him. Just to give you an idea....;

CEO Sam Bankman-Fried Claims FTX May Purchase Goldman Sachs in Future

In a conversation with the Financial Times, the 29-year-old Billionaire claimed that FTX could take over Goldman Sachs and CME one day.

www.coinspeaker.com

And you cite an opinion of an expert? So? What's that other saying from Star Trek? Always sure, but often wrong?

That is not what I said. I said that all money is technology. And just like technology evolves, so does money, and Bitcoin/Crypto are the latest most advanced forms of money. And if you actually read my posts, you would have noticed I explained how Bitcoin is sound money and DogeCoin is . So not all crypto is good money, and not all crypto is worthless.

Being a fiat currency, crapto is worthless. And that Musky's utterances can cause crapto's value to swing wildly just shows that it is worthless in at least that its wildly swinging value is determined by the utterances of the world's greatest technology charlatan who could care less about you or any other investor in crapto or crapto miner.

Dogecoin was meant to be It is funny how long it took crapto enthusiasts to figure that out.

 

[wiyosaya]

Well he cited only three, that is true but... PayPal is an international payment method that is accepted by major vendors all over the world. If PayPal is willing to convert crypto-coins into hard currency then I would have to agree with Terzaerian that calling it "widely-accepted" is accurate. It's widely-accepted because PayPal is widely-accepted. If it weren't for PayPal, I'd agree with you.

I somewhat agree. Many walk-in places do not accept pay pal, though, and I think there are still, by sheer numbers, far more places that do not accept it.

Honestly, though, I think paypal is also looking to cash in on the goose laying the golden egg. I suspect that pay pal has an ulterior motive. If someone cashes in X dollars worth of crapto one day, and the value goes up the next day, who profits from that? I would expect the answer to be paypal, not the person who converted digital coinage to USD or some other currency.

Paypal, just like the billionaires, is in it to make a profit and will, in the process, get scammed or scam others.

IMO, no matter what way anyone looks at crapto, it is a risky investment.

 

[Bl00dyMinded]

Another miner heard from.

Perhaps you'll take a moment to explain how, "printing money", is any different from planting strings of numbers on a computer somewhere, and proclaiming, "hey look folks, this is money"?

Hmm... You do realize it cost money to make money right? It's not about if I am a miner or not. It's the simple truth that a digital currency like crypto or any other that comes in play is the future and it will replace the USD if you like it or not. My point was that many say the USD is backed by something. It is NOT. That ended years ago.

So yes a computer can string numbers and say here you go this is money and cost a fraction of what it cost to print out a notes in the US. Many companies will start to accept crypto as a form of payment (many already do), and employers will start to offer it's employees crypto as their salary (like some already do). At no time am I saying crypto isn't risky or anything. I will go back to this over and over again; investing in crypto is like investing in stocks. Yes there is a risk and yes money can be made.

 

[cliffordcooley]

So yes a computer can string numbers and say here you go this is money and cost a fraction of what it cost to print out a notes in the US.

Have you ever heard this phrase? "Money doesn't grow on trees"

That is still true even for crypto. Crypto still has to be created by something else of value.

So maybe I have been mistaken. Crypto is being backed by USD and all other currencies around the globe. Without these currencies crypto would have no baseline value for trade.

 

[Ludak021]

When you create something with a $2,000,000,000 cap, THEN you can call him a joke and I'll be happy to take you seriously.

it's actually over 20.000.000.000, and, I don't really care if you take me seriously or not. Your comment is immature.

 

[NightAntilli]

And somehow, the technology behind crapto, block chain, has now become crapto itself? There's your equivalency argument again.

Blockchain was 'invented' with Bitcoin, which is a cryptocurrency. No crypto, no blockchain. A blockchain without cryptography isn't a blockchain at all. If you knew anything about blockchain or crypto, you would already know that.

And like @captaincranky said, somehow you can just plant numbers on a computer somewhere and say, gee, lookee here. It has value? See how that works?

That is exactly what happens every time someone takes a mortgage or a loan. Let me guess. You don't know how fractional reserve banking works.

Nor does the economy need block chain or crapto to operate.

Nope. But the people do, if they are ever to escape the obvious tyranny that is being introduced right at this very moment.

I'm not whining about them. I am pointing out that investing in crapto is a relative equivalent to investing in junk bonds. One day crapto is worth something. The next day, it's dropped by in "value" by some substantial proportion of what it was worth the prior day - just like a junk bond, the investment value can disappear quickly because the company that issued is has gone bankrupt - or in the case of crapto, it has lost much of its value.

"invest"
"the next day"

Using daily fluctuations as an argument against investing is a complete joke. Do you know what investing means...?

As mentioned previously in another thread, anyone that bough Bitcoin before December 2020 is at a profit right now. Sounds like a good investment to me.

And you cite an opinion of an expert? So? What's that other saying from Star Trek? Always sure, but often wrong?

The argument was that there is nothing and no one backing crypto. But there is an actual Billionaire backing it, aside from all the miners and other real people with real projects. That was the argument. But obviously you have to move the goalpost and deflect.

Being a fiat currency, crapto is worthless. And that Musky's utterances can cause crapto's value to swing wildly just shows that it is worthless in at least that its wildly swinging value is determined by the utterances of the world's greatest technology charlatan who could care less about you or any other investor in crapto or crapto miner.

Dogecoin was meant to be It is funny how long it took crapto enthusiasts to figure that out.

Yes, Dogecoin was a joke from the beginning. That doesn't mean that all of crypto is a joke.
And no, crypto is not a fiat currency.

 

[Bl00dyMinded]

Blockchain was 'invented' with Bitcoin, which is a cryptocurrency. No crypto, no blockchain. A blockchain without cryptography isn't a blockchain at all. If you knew anything about blockchain or crypto, you would already know that.


That is exactly what happens every time someone takes a mortgage or a loan. Let me guess. You don't know how fractional reserve banking works.


Nope. But the people do, if they are ever to escape the obvious tyranny that is being introduced right at this very moment.


"invest"
"the next day"

Using daily fluctuations as an argument against investing is a complete joke. Do you know what investing means...?

As mentioned previously in another thread, anyone that bough Bitcoin before December 2020 is at a profit right now. Sounds like a good investment to me.


The argument was that there is nothing and no one backing crypto. But there is an actual Billionaire backing it, aside from all the miners and other real people with real projects. That was the argument. But obviously you have to move the goalpost and deflect.


Yes, Dogecoin was a joke from the beginning. That doesn't mean that all of crypto is a joke.
And no, crypto is not a fiat currency.

No point in trying to prove facts bro. They won't understand it no matter how many times it's explained.

 

[Karlos95]

You are asking the guys who have no idea how crypto is really used or how it works. Just butt hurt about not being able to get a GPU and blaming crypto for it. Crypto exchange market is the same and has the same amount of risk as the stock market does. And don't come here and tell me how stocks are supposedly backed by something. It's not.. If you lose money you lose money.

Exactly. At least with crypto, once I buy a coin, I keep it. I have bought one particular companies stock before and they went down, instead of going to 0 or waiting for it to go back around, the administrators took 98% of all holders stock and gave it to the new owners without payment, meaning my investment had to go up 4900% which is rare for most stocks because they are actually way more manipulated than crypto. And if people disagree with that, they need to take their rose coloured glasses off and look at facts instead of the opinions of the MSM propaganda.

 

[Karlos95]

Look at the Math - 63900% of "no value" or "nothing" is still "no value" or "nothing."

And the same can be argued for the USD. Everything can be argued that it has no value. You try going to a tribe outside of civilization with $1 and see how they value it. They will probably burn it for warmth.

Problem with the USD slingers is they are so far down the machines propaganda rabbit hole is all they will ever know what to do is to feed it.

 

[Karlos95]

Another miner heard from.

Perhaps you'll take a moment to explain how, "printing money", is any different from planting strings of numbers on a computer somewhere, and proclaiming, "hey look folks, this is money"?

Perhaps you could explain why you are so against crypto for that notion and not USD for how they some how come out with $trillions worth from absolutely nothing. Wait, it is from something, DEBT, which means it's worth even less than nothing.

Also, love how you call everyone that has a good opinion on crypto as a miner. Shows you know absolutely nothing and I mean nothing about crypto.

 

[Todd Sauve]

Ugh, the worst PM that Canada has had since... hell, I really don't know because going all the way back to Pierre Trudeau from today, every Canadian PM has been better than:

I think that "awesome" is a better choice than "awful".

The topic has nothing to do with whether one likes or dislikes someone. But whether someone is qualified to give an informed opinion on a subject. People losing their shirts is not something I would describe as "awesome."

 

[NightAntilli]

No point in trying to prove facts bro. They won't understand it no matter how many times it's explained.

It's not necessarily for them. It's for the rest that might be reading this and are on the fence.

 

[captaincranky]

Perhaps you could explain why you are so against crypto for that notion and not USD for how they some how come out with $trillions worth from absolutely nothing. Wait, it is from something, DEBT, which means it's worth even less than nothing.

Also, love how you call everyone that has a good opinion on crypto as a miner. Shows you know absolutely nothing and I mean nothing about crypto.

Oh, that's easy. Because I don't feel the need to explain myself to you. Realistically, it's obvious we differ greatly, and irreconcilably in opinion.

I will say that not only the US dollar is at issue. All 1st world nations have reasonably stable exchange rates on their currencies, which are backed by incoming taxes.

Where crypto stands, is that any a**hole with the ballz to do so, can plant strings of numbers on servers far and wide, and declare, "hey folks, this is real money"

Elon Musk should have proved that to all of you, that all it takes is "is a disparaging word", to send the (supposed ), "value" tumbling.

In Musk's case, reneging on selling Teslas for bitcoin was a sound business move. After all, if Tesla sold a Model 3 for the market value in bitcoin, say $50,000 USD, only to find that the value dropped by half before they could get rid of it for those "infamous to you", US dollars, it means they got $25,000 for the car, which would be far less than the cost to manufacture.

And if, as you say< "criminals are more likely to use cash for their transactions", that sort of implies they're less brainwashed and smarter than you.

Plus, this new system of mining as "proof of work", seems sort of absurd, in that, "exactly WTF 'work', did you do"? Buy too mant video cards, scalp some, and then jump some unsuspecting power company's lines, then plug in your computers to it. ..

 

[Geralt]

He's just mad because his coin was just a joke and actually a SCAM. Many other coins within crypto are actually valuable and being used for things by many companies and transactions. Other then that, not going to entertain the rest who are still mad about crypto and blaming miners for GPU shortage. I'll continue making money mining and in the crypto exchange. Thanks and good luck all.

Escape, miner, before we shoot you dead.

 

[Karlos95]

Oh, that's easy. Because I don't feel the need to explain myself to you. Realistically, it's obvious we differ greatly, and irreconcilably in opinion.

I will say that not only the US dollar is at issue. All 1st world nations have reasonably stable exchange rates on their currencies, which are backed by incoming taxes.

Where crypto stands, is that any a**hole with the ballz to do so, can plant strings of numbers on servers far and wide, and declare, "hey folks, this is real money"

Elon Musk should have proved that to all of you, that all it takes is "is a disparaging word", to send the (supposed ), "value" tumbling.

In Musk's case, reneging on selling Teslas for bitcoin was a sound business move. After all, if Tesla sold a Model 3 for the market value in bitcoin, say $50,000 USD, only to find that the value dropped by half before they could get rid of it for those "infamous to you", US dollars, it means they got $25,000 for the car, which would be far less than the cost to manufacture.

And if, as you say< "criminals are more likely to use cash for their transactions", that sort of implies they're less brainwashed and smarter than you.

Plus, this new system of mining as "proof of work", seems sort of absurd, in that, "exactly WTF 'work', did you do"? Buy too mant video cards, scalp some, and then jump some unsuspecting power company's lines, then plug in your computers to it. ..

Everything you just said shows you know nothing on the topic and hence I will stop replying. The saying goes,
[HEADING=2]It is impossible to defeat an ignorant man in argument.

"Where crypto stands, is that any a**hole with the ballz to do so, can plant strings of numbers on servers far and wide, and declare, "hey folks, this is real money"
That is exactly what printing money means. You didn't even try to come up with an argument for the debt equation either.
Just the same feeding the machine propaganda with no logic or facts behind it.

At least bitcoin and other reputable crypto has logic in coin creation. No logic in printing money except to bail out banks and screw the little people. Simple. [/HEADING]

 

[scavengerspc]

It is impossible to defeat an ignorant man in argument

Its "by" argument I believe.

any a**hole with the ballz to do so, can plant strings of numbers on servers far and wide, and declare, "hey folks, this is real money"

It sure as hell was real money for me.

No logic in printing money except to bail out banks and screw the little people.

Been going on like that around the world for centuries. Why change now?
I mean, I hate bank bailouts as much as anyone. But in the world today if they are allowed to fail we are finished. All of us.

 

[captaincranky]

It sure as hell was real money for me.

Well, if you've made money mining, I certainly don't begrudge that to you.

I'm not into video games. Thus I further don't really give a crap how many video cards you buy to do it with.

To me though, the entire.mining craze seems like a fad, mass hysteria, simple greed, cal it what you will. "Easy money", has always had a strong appeal throughout human history, and the lure of mining certainly provides that in spades.

Still, my primary question is, how somebody, (who in the case of bitcoin, chooses to remain anonymous), can plant strings of numbers on god knows which servers, and declare it;s money.

Nobody has even broached a responsible and logical answer to that. What I've gotten is a bunch of bullsh!t, propaganda, and diversion, amounting to, "well the US dollar is going to fail", so mine bitcoin..

The truth of the matter is, that bitcoin is even further towards fiat money, than the admittedly fiat currency most of the world is using..

T would have certainly approved an addition to Fort Knox, to facilitate the storage of more currency backing gold or silver in a heartbeat. Bur for a multitude of practical reasons, alas, it was never to be.

So let's face it, the price of gold has soared commensurate, with the value of bitcoin. The difference being, one is capable of failing, the other not in a million years.

 

[captaincranky]

Everything you just said shows you know nothing on the topic and hence I will stop replying. The saying goes,
[HEADING=2]It is impossible to defeat an ignorant man in argument.[/HEADING]

What is this "heading" nonsense in your post?

I actually would very much enjoy a break from your relentless predictions about the "fall of western civilizations monetary systems".

If the US falls, (and I do agree that it might), it certainly won't be at the hands of cryptocurrency

I's much more likely that decadence, greed, sheer stupidity inbreeding, the welfare system, or a clash between Trump supporters, and the "Black Lives Matter" movement, will cause its demise.

Feel free to put me on your ignore list, I would be more than honored to join the company anyone else that is sick and tired of listening to you. But hey, being first and topping the list, ain't half bad either.

 

[scavengerspc]

Well, if you've made money mining, I certainly don't begrudge that to you.

No brother I never mined a single one. I bought what I had in 2014-15.

 

[captaincranky]

No brother I never mined a single one. I bought what I had in 2014-15.

Now that you mention it, I do remember you saying that.

And as I said, I certainly don't begrudge you making money on it, however that might have occurred.

What I've had it with up to the gills with, is the underlying premise, (as a generalization), that everything that happens in the cyber world is "real", and everything in the real world is, "fake", with a particular emphasis on currency.

My biggest kick here at Techspot is cataloging personality profiles. For example, when you constantly get messages from people saying "I'm right and you're wrong, so "I" am not going to talk to you anymore. (Like I GAF. You thinking you actually matter to me is delusional). Methinks, you should try to get that ego under control.

But what do I know? It's been said of me, "you can never win an argument with an ignorant person". To which I softly mutter to myself, "here's another fool who thinks he's mastered the art of, 'Winning through Intimidation'".

BTW, here's a link to a free PDF of that book: http://alexandrosmarinos.com/Winning-through-Intimidation-Ringer.pdf

 

[scavengerspc]

Now that you mention it, I do remember you saying that.

And as I said, I certainly don't begrudge you making money on it, however that might have occurred.

What I've had it with up to the gills with, is the underlying premise, (as a generalization), that everything that happens in the cyber world is "real", and everything in the real world is, "fake", with a particular emphasis on currency.

My biggest kick here at Techspot is cataloging personality profiles. Foe example, when you constantly get messages from people saying "I'm right and you're wrong, so "I" am not going to talk to you anymore. (Like I GAF, or that you actually matter to me is delusional). Methinks, you should try to get that ego under control.

But what do I know? It's been said of me, "you can never win an argument with an ignorant person". To which I softly mutter to myself, "here's another fool who thinks he's mastered the art of, 'winning through intimidation'".

BTW, here's a link to a free PDF of that book: http://alexandrosmarinos.com/Winning-through-Intimidation-Ringer.pdf

So get this. I read just a minute or two of that book and came across this:

"Sure, I sometimes think that perhaps it would be easier to yield to the temptation to become an ostrich and simply hide my head in the sands of unreality. In the end, though, I always manage to pull myself back toward reality, because I’d rather go to my grave a battered realist than a bloodied ostrich."

It's like he had the internet, Facebook news crowd in mind when he wrote that. I have a good feeling Im going to enjoy this book a lot.

Seriously thanks man.

 

[NightAntilli]

Crypto brings competition to the financial system. It was always centrally controlled, and now there is an option that isn't.

In all facets of life we understand that competition is a good thing and monopolies are not. But somehow we believe that governments having the monopoly to control money is a good thing.

 

[Avro Arrow]

The topic has nothing to do with whether one likes or dislikes someone. But whether someone is qualified to give an informed opinion on a subject. People losing their shirts is not something I would describe as "awesome."

My point was, I'm not going to accept HIS word about economics. He actually thought that Canada could EASILY afford to have the RCAF use the F-35, lied about the costs, the needed infrastructure and maintenance requirements. Yeah, I don't think it's awesome when people lose their shirts either and this guy tried to bankrupt my entire country! His dedication to this horrifically expensive technological dead-end lead to Justin's first victory:

Loading... | iPolitics

ipolitics.ca

The $10-billion question: why isn't the F-35 scandal on the front page of "important" newspapers?

Sometimes, it seems that a $1,452 hotel room is as important to some media outlets as the government's worst example of economic incompetence and fiscal dishonesty.

www.straight.com

Stephen Harper must resign over bungled F-35 file, say Liberals

Stephen Harper must resign over his leadership on the F-35 file, the Liberals said Wednesday, alleging the government lied to Canadians about the jets' true cost.

nationalpost.com

He's either FAR from being an economical genius or he's a corrupt piece of garbage. Either way, I wouldn't be using HIM as a reference for what is and isn't good in economics. I don't question the stance that cryptocurrencies aren't as yet mature enough to be trustworthy, all I'm saying is that using Stephen Harper as a reference for economics is like tappng David Duke as a reference for societal structure. Even if what he says happens to be correct at the time, his past actions make him completely unsuitable.