this post was submitted on 19 Jun 2024
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You know how I know my maga relative lost everything he tried to "invest" in crypto? Because he suddenly STFU about it.
There was a while in 2019(I think) when all the office talk(software firm) was crypto then it just stopped it was glorious.
It didn't stop, sadly. Everyone just started talking about AI instead.
Anybody who is seriously in the software industry should have realized the crypto was a giant pyramid scheme that they would definitely at the bottom of.
And if one person tells me that it's not fiat one more time they're going to get a slap. Absolutely 100% is fiat shut up.
It’s not fiat.
Now give me a slap daddy
The masochist told the sadist, "Hurt me."
The sadist said, "No."
I actually get crypto as a concept but I really think their can only be one coin of any true value, and right now it's Bitcoin. I think at some point something will come and knock it off the pedistool.
I'm not a get rich quick kinda guy so I never bothered with crypto and have only played around with a little bit of money trading stocks and treated it just like I do gambling (money I will lose, although I did make a bit of money back on GameStop lol).
Pedi + stool...like a footstool?
No, pedi as in pediatrics. They're talking about knocking it off of child poop.
The worst thing that ever happened to Crypto was the price rising so high. It made idiots billionaires overnight, and then these idiots thought that made them smart. Now they spend all their time going to Blockchain conferences and patting themselves on the back for being so revolutionary when in reality they just got lucky.
Was? I don't agree but I understand when people keep saying it's a pyramid scheme. I don't understand the past tense though.
I think a key difference is that it's maintained by an open network of computers rather than a state.
It's sold as a money making scheme not as an alternative form of currency. If you just use it as an alternative form of currency to get around some kind of restriction then it's fine but the crypto bros don't use it like that. They think it's going to manifest some kind of will for them. Of course they're being tricked by other people who've already invested. Who themselves were tricked by other people who already invested. It's literally a pyramid scheme. The only way anybody makes money is to get other saps involved.
Yeah, times like 2019 are the best times to buy actually.
When crypto is up, the hype gets out of control and fools rush in to buy. The best time to buy is when crypto is "dead" once again.
(On the other hand bitcoin and proof-of-work is already any obsolete technology... And almost all NFTs are trash... So stick with ETH or whatever instead.)