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BTC is a scam

BTC fake Bitcoin is a scam prove me wrong.
Why would anyone need to prove you wrong, it being a scam has been pretty much proven time and again with just about every kind of cryptocurrency lol...
Original post by artful_lounger
Why would anyone need to prove you wrong, it being a scam has been pretty much proven time and again with just about every kind of cryptocurrency lol...

I wouldn't call privacy coins like monero a scam. The "scam" bit comes from people trying to use them just as investments rather than what they were designed for. (Bitcoin was just designed as a trustless decentralised currency, Monero for anonymous transactions)
Original post by _gcx
I wouldn't call privacy coins like monero a scam. The "scam" bit comes from people trying to use them just as investments rather than what they were designed for. (Bitcoin was just designed as a trustless decentralised currency, Monero for anonymous transactions)


Except it doesn't actually do anything that regular currency doesn't already do since the "decentralisation" clearly doesn't provide any economic stability to the currency, and on top of that it uses more electricity than many developed nations in mining every year, and has single handedly tanked the computer components market (mainly GPUs and so on), which in turn causes increased speculation in mining for rare earth materials which doubles the negative environmental and social impact of it.

Can't wait for it all cryptocurrency to be made illegal. Couldn't happen soon enough...
Original post by _gcx
I wouldn't call privacy coins like monero a scam. The "scam" bit comes from people trying to use them just as investments rather than what they were designed for. (Bitcoin was just designed as a trustless decentralised currency, Monero for anonymous transactions)


Of course Monero is actually used to buy illegal cheese and other funky items off the dark net. However I would argue that BSV has a use case since it is used in retro gaming via HandCashApp. Also XRP and XLM have valid use cases because they are used by small banks as a transfer medium. In comparison most of the cryptocurrency market is going to zero along with BTC because it does nothing.

Original post by artful_lounger
Why would anyone need to prove you wrong, it being a scam has been pretty much proven time and again with just about every kind of cryptocurrency lol...


Dam! You are so based. I love TSR! What happened? Where have all the SJW's gone lol?
Original post by illegaltobepoor
Of course Monero is actually used to buy illegal cheese and other funky items off the dark net. However I would argue that BSV has a use case since it is used in retro gaming via HandCashApp. Also XRP and XLM have valid use cases because they are used by small banks as a transfer medium. In comparison most of the cryptocurrency market is going to zero along with BTC because it does nothing.



Dam! You are so based. I love TSR! What happened? Where have all the SJW's gone lol?

Oh, you were talking about BTC in particular, I have nothing in particular to say about it. It does seem like an obsolete currency.
Original post by artful_lounger
Except it doesn't actually do anything that regular currency doesn't already do since the "decentralisation" clearly doesn't provide any economic stability to the currency, and on top of that it uses more electricity than many developed nations in mining every year, and has single handedly tanked the computer components market (mainly GPUs and so on), which in turn causes increased speculation in mining for rare earth materials which doubles the negative environmental and social impact of it.

Can't wait for it all cryptocurrency to be made illegal. Couldn't happen soon enough...


100%. However advancements in mining algorithms have solved some problems, but legit and good projects are very rare.

One thing I am looking forward too as you put it is for most cryptocurrency to be made illegal. A huge crash is what the market really needs to wipe all the non compliant projects. Just like the dot com crash .

BSV however is worth looking into, not for speculation but rather as a computing standard for blockchain in line with crypto regulations.
(edited 1 year ago)
Original post by artful_lounger
Except it doesn't actually do anything that regular currency doesn't already do since the "decentralisation" clearly doesn't provide any economic stability to the currency, and on top of that it uses more electricity than many developed nations in mining every year, and has single handedly tanked the computer components market (mainly GPUs and so on), which in turn causes increased speculation in mining for rare earth materials which doubles the negative environmental and social impact of it.

Can't wait for it all cryptocurrency to be made illegal. Couldn't happen soon enough...

I'm sure privacy coins will eventually be illegal: I don't see why a tool that can be used to subvert governments would be government approved. (then again, Tor gets a majority investment from the US gov) I think people should have the right to make anonymous transactions as long as there are anonymous transactions to be made that I consider legitimate. (only really one thing in the UK but probably plenty of others)

Not convinced it would actually do anything though, it'll be another unwinnable war on drugs. Effectively you'd just ban exchanges. Crypto could still be exchanged in person and by cash in mail. (and already is) You'd just be driving it all underground, why not regulate it instead?

That said I don't really care if non-privacy coins get banned. But mechanisms to subvert governments/regimes if need be are imo essential, hence the use for stuff like Tor and privacy coins.
(edited 1 year ago)

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