The creator of Dogecoin says all crypto is a scam
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Avro Arrow
Posts: 3,721 +4,822
How about the biggest dregs of society, the parasitic corporate executives?
Avro Arrow
Posts: 3,721 +4,822
The problem is that as bad as they are, the system in place is hardly any better.
Ending involvement in crapto does not mean ending study of it. The article clearly states that he has studied it for years.
Personally, when it enables stuff like this, I would say the system is even worse. However, I bet the vast majority of people would be afraid to change the system. IMO, that is what really needs to be done - change the system to something like this - https://sacred-economics.com/ I certainly cannot say what would work better.
"inherently right-wing, hyper-capitalistic technology"
No question about where Palmer falls on the philosophical/political spectrum! He forgot to include "white imperialist" in his description.
No question about where Palmer falls on the philosophical/political spectrum! He forgot to include "white imperialist" in his description.
Bl00dyMinded
Posts: 547 +844
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.
NightAntilli
Posts: 929 +1,196
I don't see how it's different. They are both the killing of a whole
This is a different argument than the one you used previously. Even then, it can be seen two ways. Indeed if everything is tied to a person or organization, criminals can no longer be anonymous, and they can be identified, meaning they would no longer have the same incentive to do it.
On the flip side, if everything is decentralized, there is no single point where criminals can attack. And if everything is anonymous, including the accounts of the wealthy, combined with decentralization, there is nothing to target in the first place. And only crypto can achieve this.
Decentralized systems are not immune to criminal activity. It just takes a more sinister form where it's much harder to catch ppl.
NightAntilli
Posts: 929 +1,196
Sure. He could have studied it from 2010 to 2015. That would still make his opinion outdated. It would be like trying to give an opinion of the situation of the CPU market today based on what happened between 2010 and 2015.
And even if you don't think that is true, and that he somehow kept up with the whole crypto industry the whole time with no involvement, the whole "right-wing" comment already suggests that it is a politically driven opinion rather than an objective one.
This is not wrong. But in the context that I was trying to explain, it removes the criminals completely in terms of ransomware. For example, even though they have used Bitcoin as a means of payment for ransomware attacks, they cannot put ransomware on the bitcoin network itself. So in other words, if you had your important files on a decentralized blockchain, ransomware by itself would become irrelevant, and ransomware attacks would simply stop happening.
So crypto, even though seen as the problem, can just as easily be seen as the solution.
Axle Grease
Posts: 306 +262
If there is no naturally enforced scarcity as with gold and other precious metals, then an artificially enforced scarcity is absolutely essential for a currency, else you might as well be buying sand. That's why dogecoin is a scam. There are no limits on the number of dogecoins that can be created. Just like with government sanctioned paper money, and with the same result of scamming people out of their savings by devaluing the currency itself by artificially inflating its supply.
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Dimitrios
Posts: 1,388 +1,191
Watch out with using the name Trump on this site, a lot of snow flakes here and I was banned for 7 days.
Bunch of crybabies tilted by someone saying that capitalism is being organized to concentrate wealth with the 1%, and that crypto is just another tool they use for that end, lol.
Suddenly the anti-crypto gang rushes to it's defense, because of McCarthyist indoctrination.
And it's irrelevant if the early buyers of crypto got lucky, it's an objective fact that they profited off the ignorance of others without any contribution to society. And society was not improved in any way by crypto or the large-scale scamming - I'd argue that the contrary is true.
A sistem driven only by the concentration of wealth eventually brings ruin to society, as the real production of wealth, science and culture is held hostage by the system built around those who control the economy.
Just have a look at how Elsevier parasitically profits off scientific work while doing absolutely nothing but control it's circulation.
Suddenly the anti-crypto gang rushes to it's defense, because of McCarthyist indoctrination.
And it's irrelevant if the early buyers of crypto got lucky, it's an objective fact that they profited off the ignorance of others without any contribution to society. And society was not improved in any way by crypto or the large-scale scamming - I'd argue that the contrary is true.
A sistem driven only by the concentration of wealth eventually brings ruin to society, as the real production of wealth, science and culture is held hostage by the system built around those who control the economy.
Just have a look at how Elsevier parasitically profits off scientific work while doing absolutely nothing but control it's circulation.
m3tavision
Posts: 1,733 +1,510
Yeah, I would love to see him and Soros in a fireplace setting, debate who's ego is bigger and who's world domination view is thought to be superior...
Largest PPV event evAr..
NightAntilli
Posts: 929 +1,196
Tell that to the ones in Nigeria that are using Bitcoin.
How can Nigeria drive bitcoin adoption
32% of residents say they use or own cryptocurrencies
en.cryptonomist.ch
Avro Arrow
Posts: 3,721 +4,822
I'm not sure that they suffer from a fear of lack, I believe that they're just unbelievably greedy. Think about it, just to become a billionaire, your main driving force has to be avarice because you didn't stop long before you got there. Like, I don't think that I could ever be a billionaire because I'd have retired before I hit ten million.
I understand that the most precious commodity in existence isn't anything tangible. The most precious commodity cannot be bought or sold and nobody really knows how much of it that they have. That commodity is of course, time.
If I reach a level of wealth where I'm on easy street for the rest of my life, I'm retiring. I want the maximum number of days on easy street in my life and spending time raking in more money than I need to be completely happy would actually make my life worse. Why would I work when I don't have to? Why would I occupy a job that I no longer need when there is surely someone else who does need it?
These people work when they don't have to and occupy a job that they don't need which means that someone who does need it won't be able to get it and they take all of this money out of the economy and sit on it. That money can't be used by anyone else to stay alive or keep the economy going so it effectively no longer exists as usable wealth. Despite all this, these lunatics keep on working and taking as much as they can despite the fact that they'll never use it. This is a type of psychosis. It's similar to having a gambling addiction. These people are greedy and sick.
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Ludak021
Posts: 775 +590
He copied BitCoin, he created nothing. It's a meme coin and the dude is a joke.
Avro Arrow
Posts: 3,721 +4,822
Of course he will because he's rich. The way things are now, only the rich enjoy capitalism. That's the problem with the system today, a problem that didn't exist 50 years ago because 50 years ago, markets were competitive with many players. Now markets are all oligopolies, duopolies and monopolies. That's a lot less people employed and a lot more wealth concentrated in the hands of fewer and fewer people.
The current system isn't the least bit sustainable and it will collapse within the next 20 years. There are already signs showing. The biggest crack forming in capitalism is the post-boomer generations having a positive view of socialism. Who can blame them? They were born into a world in which they can't afford post-secondary education but can't get a good-paying job without it. They can't afford a home in which to raise children and even if they did, they wouldn't be able to afford to raise the children anyway.
Despite this, the rich keep trying to take more and more from Gen-X, Y and Z, squeezing them like they're trying to extract blood from a stone. One of the most ironic aspects about it is the attitude of the baby-boomers. They may not have had all the wonderful technological toys that the post-boomer generations do but they still had it damn easy. They could get a good job, afford a home, a wedding, the raising of children, 2 cars, etc. all with nothing more than a high-school diploma.
It's also ironic that, despite being the generation that needed it the least, university was dirt cheap for them while it costs students today $30,000+ per year if they go to an American university. Despite having had a much easier experience (with an actual chance of success), they've had the nerve to call the younger generations "snowflakes". This is the reason that the saying of "OK BOOMER!" came about. Younger people were tired of hearing these old and entitled people who completely screwed up the economic system daring to dump on them.
Capitalism as we know it has less than 20 years of life remaining and nothing can stop that now. The question is whether or not it will end peacefully or will the rich die at the business ends of pitchforks all over again? I sure hope that it isn't the latter but if it is, the rich will have nobody to blame but themselves.
Avro Arrow
Posts: 3,721 +4,822
What about Jeff "Lex Luthor" Bezos, Bill "The Scarecrow" Gates, Elon "Brainiac" Musk, Charles "Sinestro" Koch and Warren "The Kingpin" Buffett?
They should all be there. It would be the largest televised gathering of real-life comic book villains in history.
Avro Arrow
Posts: 3,721 +4,822
Yeah, they whine as if this ISN'T what has been happening for the last 50 years or so. It's hilarious!
Where do you think that Herbert Wright got the idea for the Ferengi?
Well you have to remember that they don't see society as a single entity. They think that they still live in the jungle where you have to do terrible things to survive. It's like the last 10,000 years of progress never happened.
If they had any concept of human history, you wouldn't have to tell them this but these were the dumb kids who didn't pay attention in school but still managed to escape with a "C" average.
I say the same thing about landlords. I think that renting shouldn't be legal because it's creating a HUGE housing crisis in the USA right now.
Avro Arrow
Posts: 3,721 +4,822
Considering the end result of the last mining boom, it's you that's going to need good luck as most people lost their shirts to that scam. Just don't invest any serious money in it and you should be fine.
Honestly, I cannot see their drive for more, more, more without a fear of lack. Avarice likely has a part to play in the equation, however, if they did not fear being without, I cannot see them continuing to strive for more. However, I am sure all of them have forgotten what it is like to be poor if they ever knew what it was like.
Right there with you.
I certainly agree that they are sick.
I agree capitalism has a limited life remaining. IMO, it is unsustainable, and wealth is an illusion. The way I see it, civilization has not progressed beyond feudalism.
I have asked this a dozen times. Never get a reasonable answer. So here it is again.
How is crypto a Ponzi scheme?
How is crypto a Ponzi scheme?
Vanderkaum037
Posts: 59 +76
You don't know many rich people do you? They didn't get rich because they hate money just letting you know.
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