Crypto, A fun investment, hyped by people who don’t know jack shit about it, and the hype. GOSH THE HYPE. Done get me started on the hype.
Elon Musk tweets about it. The cool names and valuations, makes you feel all hip telling your friends you own some. But here’s the catch,
Bitcoin investors seem to rely around the greater fool theory—
Allow me to elaborate: stating it in all caps and all emphasis “ALL YOU NEED TO PROFIT FROM AN INVESTMENT IS TO FIND SOMEONE WILLING TO BUY AN ASSET AT AN EVEN HIGHER PRICE”
You know when they lie to themselves so much, until it starts appearing as the truth, and the moment someone catches their bluff, they LIE TO THEMSELVES AGAIN. Loosing themselves in the endless spiral of self-deception.
I know of companies that have vested interest in these coins will allow users even today to buy stuff with them because, they expect it could increase in value and then they can sell it for real money these specific use cases is more about taking advantage of the situation than actually making this a new currency.
remember when Elon musk said he would accept bitcoins for tesla. well we know he had a large dash of bitcoins already, after he dropped the news that the value of the coin shoots up he sells them all. DING DONG DITCH then he announces they won’t accept bitcoin anymore the price falls he buys back in.
and remember when he said dogecoin was great and it shot up in value. LOL dogecoin isn’t even a real cryptocurrency, I mean it’s a joke based off real cryptocurrency. it can be infinitely reproduced so it has actually no value but if people buy it up faster than its mine, then its value increases. elon musk knows this so he bought a lot of dogecoin, values goes up and then sell, repeat the cycle and make profit now it. these were stocks this would be incredibly illegal and get musk in deep trouble but coins aren’t protected again they’re decentralized so market manipulation is super easy
With time I learned that, you don’t matter shit to society, they only care whether you have money or not, you can be completely evil, but provided you have money, society will blindly follow you, and they’ll think you’re doing whatever good for the world. The world only cares about money and the power it holds, society has only one reason to make something popular, whether it makes money or not. They don’t care whether the good is useful or not, or if it is harmful to its users, they only care whether you can make money with it.
you clearly cannot make money with fediverse or XMPP, heck even with real decentralization. You cannot because there’s no boss, there’s no master. Only us trying to make the internet actually free and private for all. And as we are making services for the greater good of people rather than for profit, we are not making any money with this.
It’s true that some people have made money, a lot of money with cryptocurrency but for all the stories of people who made a lot of money, the stories you don’t hear about are people who have lost a lot of money.
people that want to make money will place the idea, the concept in cloud 9, because they need this, they need you, and they need you to be used in an awful way. You’ll have random people screaming at you about how great this is, because they want you to be the one that pools money in and loses.
you’ll eventually realize the utopian ideals of this stuff is so unrealistic and how its based off a fallacy. It’s all about speculation. it’s about making money without really making anything.
Yes maybe you can make the illusion of money with that fake centralization Blockchain proposes, it is a fake decentralization because, if someone, for example, bans you, it’s recorded in the blockchain that you’re banned, so you can’t do shit, you can’t say “alright, I’ll create a new account” which is not different from getting banned from Twitter and creating a new account. So it’s still the same, in real decentralization, if you get banned, you just create an account in other server and that’s it (Or you can create your own server!). With blockchain this is not possible, you’d have to create your own blockchain, which will be separated from the blockchain you were using before, it’s like going from Twitter to something like Gab.
and please shut the gag about the whole but, bitcoin is decentralized, its not sweetie, its not. None of the cryptocurrencies are truly decentralized. They’re actually centrally controlled by the miners, who can basically rewrite history at will. They made people believe that what they’re using it’s actually decentralized, but in practice, it’s exactly as centralized as Twitter and similar.
It doesn’t help that there is an industry built around promoting this. If you see somebody online talking about making a lot of money in cryptocurrency, it’s safe to assume they don’t know how to do it because if they did, they would be spending their time and resources with cryptocurrency instead of trying to sell some PONZI scheme on the Internet.
People don’t realize that the market for cryptocurrency is controlled by the people who have a lot of it. These people are referred to as “WHALES.” If somebody wants to liquidate a large quantity of bitcoins, because the market is relatively small, it will depress the price to the point where equilibrium is eventually reached. The fate of the market is directed by the big players.
Bitcoin blocks take forever to compute. Literally, a transaction takes 10 minutes to an hour to compute and verify! And it’s not getting better, it’s getting worse because BitCoin was set up to have increasingly difficult mine operations. cryptocurrency’s value is derived from nothing it’s unlocked through meaningless computations that don’t have any correlation with work or any basis beyond creating
But why would people change to blockchain despite the fact it’s exactly the same shit? many have said once cryptocurrency stabilizes then it can be used as a proper means of transactions like it won’t be jumping around this much, but SURPIRSE SURPRISE, that may never happen since it would require equivalent of trillions of us dollars spent by people using just a single cryptocurrency on actual goods not speculative markets and that can’t happen you know unless it’s already stable because businesses won’t accept a speculative coin. it won’t be used for trading because it’s not stable and it won’t be stable because it’s not used for trading.
it’s exactly the same shit. When they banned Trump from Twitter and shit, people started thinking “Alright, centralization is bad, we need decentralization”. So, instead of going for the real decentralization (XMPP, Fediverse…) They went for the shit “decentralization”, Projects like bitcoin, solana, ethereum, Litecoin, Monero, Veil and Harmony and God knows what else.
And again, why did they choose the shit decentralization instead of the real decentralization? Because with Blockchain and shit, you can make money, you can’t with the other kind of decentralization. But something even better is that CEOs can keep their users happy while having the same control over users, because, again, it’s one blockchain per network, if you’re banned from one blockchain, you have to go to another or join the same blockchain again.
Go ahead, sheeples, follow the herd. Crypto will never be real money.