Then they will ask why nobody wants to use their payment cards
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Crypto is still a scam.
And specifically bad for this.
Only way out is communism. Pick yoir flavor.
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Benefits of centralization: Someone can counteract harmful interactions.
Drawbacks of centralization: Someone can decide legitimate interactions are harmful.
It does suck when the “harmful interaction management system” goes haywire. But I’m not sure it sucks enough that I’d rather simply not have one.
Yeah. They do such a good job of stopping nazis and csam.
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you can prevent getting scammed with crypto by using something like escrow
wrote last edited by [email protected]Oh honey...
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I used to be one of the people firmly on the "someone can decide legitimate interactions are harmful, thus they should not ever exist" side of the argument, and I think this is certainly a good way of putting it.
For a lot of people heavily into crypto, they see the drawbacks of the existing system, but instead of pushing for reform and legal changes, they try technological abolition of the entire mechanism altogether, without then realizing the tradeoffs that brings (e.g. how a lot of people will go "it's instant! Sellers don't have to worry about chargebacks! Nobody can take away your money from you!" yet don't think about how that also means a scammer taking your money is a permanent loss you can never reverse. (or if they do think about it, will argue that risk can be reduced to a point it is less harmful than the alternative, centralized companies)
I don't deny crypto can be useful sometimes, or even be more beneficial when the centralized companies do eventually do something bad and people need an alternative payment mechanism, but I think a lot of people into crypto overestimate how beneficial it truly is compared to the tradeoffs.
About the "nobody can take your money" part.
Etherium Classic exists because somebody hacked an extremely valuable wallet and funneled 13% of all eth into their wallet. The people who control the mining pools, (rich assholes) wanted that transaction reversed, so they hard forked. Classic is the main fork that didn't reverse that transaction. It's much less popular, despite being run by people who are demonstrably more principled.
Paraphrased from Dan Olson's video "line goes up" about crypto's history and affect on the world. Spoiler: it's a scam, and a tool for the wealthy to get even richer. Computing power can be bought with dollars.
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"someone can decide you have zero dollars"
free speech until your bank account goes away
Also the trump admin did abolish finality of payments.
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uhhh... so the logic here is that if regulation isn't even an option then.... what exactly? What's better, wearing a helmet so your head doesn't get broken in, but leave your arms and legs uncovered, or just not wearing any protection at all?
Communism. Start small, connect networks.
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Lmao, crypto tech bros coming out of the woodwork trying to get popularity for their bag holder's game...
Also pretending that shit hasn't been bought up by wall street
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I'm EU based. We don't have visa debit cards
I'm in France. Pretty much everyone has a Visa debit card.
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About the "nobody can take your money" part.
Etherium Classic exists because somebody hacked an extremely valuable wallet and funneled 13% of all eth into their wallet. The people who control the mining pools, (rich assholes) wanted that transaction reversed, so they hard forked. Classic is the main fork that didn't reverse that transaction. It's much less popular, despite being run by people who are demonstrably more principled.
Paraphrased from Dan Olson's video "line goes up" about crypto's history and affect on the world. Spoiler: it's a scam, and a tool for the wealthy to get even richer. Computing power can be bought with dollars.
Technically true, but chains nowadays aren't really vulnerable to that same kind of attack just due to their sheer scale and diversification of controlling stakes compared to what they used to be, so I wouldn't consider it a particularly relevant issue today.
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Yeah, but one is extra bad for our enviroment while being a scam.
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you can prevent getting scammed with crypto by using something like escrow
Doesn't protect against:
- Social engineering
- Contract code vulnerabilities
- Untrustworthy/Compromised controlling stakes in that escrow, whether they be people or autonomous systems
- False reversal claims made against the escrow
It has the same possible issues for your financial sovereignty as a regular, centralized financial institution, plus technical issues with the way the underlying infrastructure is built.
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Cryptocurrency is still dependent of a pyramid scheme and criminals-enabling.
As we all know, Visa and MasterCard have never been used by criminals. As soon as a criminal touches a card, the card turns into ash.
Reading isn't your strong suit, is it?
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It's not porn availability that's threatened, but freedom. I don't want to use bitcoin and I still think it's a scam and a sort of gamble, but if Visa or Mastercard can deprive us of freedom, we may have to consider using bitcoin.
wrote last edited by [email protected]The don't use Bitcoin.
I like Etherium cause it doesn't waste electricity and you don't need to buy expensive proprietary hardware to mine it. All you gotta do is press the "stake" button and enjoy that 4% APR. I made $500 in two years simply by sitting on my ETH and letting it grow. Just like how banks used to work back in the day. It's nice; you're missing out.
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Crypto has its issues, but when used as an actual payment system, it’s a great alternative for online payments, and can give more privacy and anonymity if used correctly
Perhaps, but bitcoin isn't exactly the best example of that.
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I guess the dollar might need to end, but for different reasons.
As long as Trump is in power, he can in principle just print as many dollars as he wants to and spend them on what he likes.
The mechanism is by (ab-)using the Federal Reserve bank. It hands out "loans" to the government, the government never really has to pay them back. (it's called national debt)
Ending the existence of the dollar seems to be the only real way to take a money-printing machine out of Trump's hands.
I'm not saying this lightheartedly, just considering the options.
Assuming that Trump fires Powell
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Lmao, crypto tech bros coming out of the woodwork trying to get popularity for their bag holder's game...
Also pretending that shit hasn't been bought up by wall street
What? They have like 5%. You should revisit your stance
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Crypto is still a scam.
Bitcoin is not crypto
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Yeah, but one is extra bad for our enviroment while being a scam.
Over 52% of the bitcoin network is renewable energy and growing. Y’all need to update your info, damn
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Honestly, what's the point of a credit card? Why don't people mostly use debit cards? It gets just directly wire transferred from your account. No sort of junk fees or monthly subscription needed. Genuine Question.
I’ve just got rid of my credit card after 10 years in NA. Yes it can come in handy if you need a couple grand all of a sudden but damn, what a ball and chain, I hated it
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Yeah, I'm going to buy my games with bitcoin now.
Oh shit, the fee is higher than the price of the game, can I use Litecoin ?
Lightning network exists too
