Consume Product

crypto is a second stock market, complete with rugpulls, pump and dump schemes, bubbles, etc. since it's unregulated and not ever tied to real production like a real company can be, the proportion of blatant scams to honest coins is extreme.

on the other hand, the BTC bubble has been inflating so consistently and for so long that people are starting to treat it as a sound investment. however, it is held up purely by trust and by the sunk cost fallacy given the thousands of expensive data centers burning GPUs to run it. the reason it costs 10 dollars to send 5 dollars is because you must pay those GPU owners to all collectively agree "yes, you sent 5 dollars". this is referred to as mining, since for any one entity to agree that anything happened it must first solve arbitrary, wasteful cryptographic challenges. this is the "work" that supposedly validates BTC as a currency, like how an hour of shovelling would validate an hourly salary.

it takes 1.5 watt-hours for a regular card transaction to be processed. it takes 700,000 watt-hours for one instance of bitcoin being sent.

in my opinion the thing is a shameful scam and anyone on our side who praises this jewish turbo-fiat is a fool. if you got/get rich off it good for you, but winning a couple hands of blackjack does not vindicate mafia-owned casinos. crypto is half the reason a new GPU today starts at $600, the other half being AI, it has facilitated countless confidence scams, and i shudder to think what we could have achieved instead with all the literal energy wasted on processing it.

Its gambling

No, Goyim. You can trust our crypto-shekels.

Digishekels who are worthless once power is gone

I think of it as an artificial brake on the price of gold and other tangible assets. Kind of a cul-de-sac.

Digital currency is a scam. While I have no doubt people have made money, it's the principle.

Similar to how boomers hide their slave labor in other countries by playing the (((stock market))). Someone somewhere is getting royally fucked over for your gains.

Also, anyone REALLY into crypto is a techno idiot, because who else would want every aspect of their monetary system tied into electricy, ISP's and third party, free market hardware?

The whole thing just reeks and seems like the next step in even FURTHER removing the concept of a country controlling their own money supply and monetary system.

I'd rather have physical assets. Numbers in a computer can be turned to zeros at any time from anywhere. And I'm not talking gold or silver either. We aren't allowed to have a high trust society and I personally don't have a way to verify the authenticity or purity of a gold or silver coin, so I'm not trading whatever useful thing I've got for some unknown coin in a collapse. Problem lies in picking physical assets that have value here and now as well, not just during a collapse. Try selling a gun or ammo right now- you're going to have to give at least a 20% discount versus a store. Try selling food or water- nobody will buy from you versus going to Walmart.

I saw a meme years ago from stonetoss where everyone was laughing at bitcoin for crashing down to 100k. I think bitcoin was at 10k at the time.

Is it a scam? As much as scam as the collective agree. Trump is trying to get the USA into crypto. So its likely going to have tangible value backed by bombs and the threat of democracy

Not any more than the US Dollar.

everything is a scam. except your house and the work you provide to you family and community. there is no real investment anymore. deep down you cant trust metals, stocks, fiat currency or crypto.
at least with crypto you can make money that you can take it with you and the only way it vanishes is if the internet dies

Then you suck. If you can't explain your reason for entering the trade when you did, you were just gambling and deserve to lose your money.