Cryptocurrency (38 Viewers)

[Strickland]

More than 10 000 brands of distributed data ledgers and most of them do the same thing while being extremely inefficient and wasteful, relying entirely on constant fiat money flows to keep them operational, are not pyramid schemes?
Add to this no intrinsic value, no barriers to entry and no regulation or oversight, mostly supported by financially and economically illiterate young men. Yeah, no pyramid schemes. Just quasy pyramid-Ponzi-MLM schemes.

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Let me rephrase myself: imo not all of crypto is a pyramid scheme. imo the value lies in the decentralised nature and reliability of the blockchain.

 

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[campionesidd]

Let me rephrase myself: imo not all of crypto is a pyramid scheme. imo the value lies in the decentralised nature and reliability of the blockchain.

Is it though? A few thousand people hold most of the market cap, and most transfers are done through a handful of exchanges.

 

[swag]

I’m not seeing the decentralized piece for those reasons. Throw DAOs at it, and you’re just talking about institutionalized plutocracies enforced in code instead of just real life.

And there are very few things where a blockchain is not only useful but necessary. Far more cases it’s ill suited for the problem at hand compared to existing technology that does it already and at proven scale.

 

[Strickland]

Is it though? A few thousand people hold most of the market cap, and most transfers are done through a handful of exchanges.

Thats just how life (and math) works.
https://en.m.wikipedia.org/wiki/Pareto_distribution

 

[campionesidd]

Thats just how life (and math) works.
https://en.m.wikipedia.org/wiki/Pareto_distribution

Exactly. So the decentralization aspect is absolutely useless, because a few whales can manipulate the prices whichever way they want. And exchanges can freeze outflows too. Unlike traditional banks, they’re not even FDIC insured and the lack of regulation means no one is technically committing a crime when they rug pull or pump and dump.
Crypto is a solution looking for a problem. An extremely wasteful one at that.

 

[.zero]

If you’re in town for NFT NYC then stop by my event tomorrow and Thursday. DM me for details

 

[Siamak]

 

[swag]

If you’re in town for NFT NYC then stop by my event tomorrow and Thursday. DM me for details

Will there be $DRU tokens powered by Socios?

 

[.zero]

Will there be $DRU tokens powered by Socios?

Nope. I choose to partner with high quality and well funded scammers. Plus I’m not stupid unlike every football club on the planet

 

[swag]

Man, I watched one of those breakdowns of the BAYC. It's like the biggest, most expensive 4chan troll ever.

 

[.zero]

If it’s true then it’s hilarious. Yuga labs, VCs and every celeb got got

 

[lgorTudor]

If it’s true then it’s hilarious. Yuga labs, VCs and every celeb got got

must
resist
picking up a floor MAYC

better hit a cold shower before something stupid is done

 

[.zero]

must
resist
picking up a floor MAYC

better hit a cold shower before something stupid is done

Depending on how low that floor price gets I might be tempted to do the same just for the novelty and aesthetic

- - - Updated - - -

The story from the chain analysis from peak price to what I would acquire it for alone would incite several heehaws at cocktail parties and soirées i frequent

 

[swag]

This goes in way too heavy on the BAYC clues in the middle 30 minutes, and it waves the racism flag a bit easily, but all the references are legit:

 

[Albo]

must
resist
picking up a floor MAYC

better hit a cold shower before something stupid is done

My friend sold his bayc when floor was around 20E


Sent from my iPhone using Tapatalk

 

[.zero]

This goes in way too heavy on the BAYC clues in the middle 30 minutes, and it waves the racism flag a bit easily, but all the references are legit:

This is a helpful watch

 

[Fr3sh]

My LUNC is bussin @lgorTudor

 

[lgorTudor]

My LUNC is bussin @lgorTudor

 

[Fr3sh]

Once it hits ATH we buying JJ off of Agnelli

 

[.zero]

My LUNC is bussin @lgorTudor

Arb tf out while the getting is good m8