LogFAQs > #965165752

Judgmenl posted...

The scariest people are those who act like they understand technology but don't actually work with technology (usually those on the business / management side of it).

Every startup in 2020

The smart contracts will allow us to pay for bitcoin insurance, which will bail us out when the army of bots constantly removing money from the system empty your bank account, just $100 every month, you can trust it will do exactly what it says it will do until the developer who left the back door in there takes out the liquidity pool.

There were people who caught it early on but those guys were FUD.

But look, I found this great new cryptocurrency, I am very bullish about this one.
https://stripe.com/docs

Their white paper includes;

• A flat 3.5% gas fee on every transaction (this helps the developers keep working on their services, much cheaper than most for the sheer traffic it can handle)
• They don't even have access to their own liquidity pool, which means they can't rug you! They don't even need to dox themselves because they are legally obliged to so what they say they are going to do.
• Their cryptocurrency has a constant rate of inflation that guarantees it stays in circulation, a built-in anti-whale measure. It loses 2% of its value every year!
• A cryptocurrency first, a stable coin tied to real-world applications that actually serve a purpose, the interest rates of loans!
• A green impact, almost 10,000 times more efficient than any other cryptocurrency!
• Has moved in a stable, predictable way since Richard Nixon was forced to mandate it back in 1968 to prevent the world economy from collapsing!
• Automatically interchangeable with any other crypto on the planet, the bridges and liquidity pools are global and have physical institutions bound by real laws!
• Nazis hate it, and used this system as an excuse to exterminate Jews, which ties perfectly into the ignorance of anti-social people who want to go back to using commodity money, currency based solely on what swing traders, who treat your bank account like a gambling game, feel like doing!

Can't wait to invest!

adjl posted...

Pretty much. Does crypto have the potential to take some control of the country's finances away from the big banks? Yes. Is it going to prevent money (and therefore power) from concentrating in the hands of a small number of people that are wealthy enough to manipulate the system into making them even wealthier? No. Money naturally concentrates, regardless of the nature of the currency. Shaking up the currency just changes which ultra-wealthy hands it ends up in, and really, there are very few meaningful differences between the sort of people that treat our economy like an idle game.

Worse yet, crypto just started off with a late-stage Capitalism built right into it by design. Because there's nothing else to it, it's just a grotesque display of everything wrong with the free-est of markets.

I am reminded of the fleeble game (or whatever it was called) where people in third world countries made money just by playing a game. Crazy that, why don't they just remove the game and stop wasting their time, then? Maybe they wouldn't be able to hide their "scholarship" scams if they did that.