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ripvannwinkler t1_ixnmsq0 wrote

Reply to comment by AcidShAwk in Reuters: Global regulators to target crypto platforms after FTX crash by Globalist2

Crypto never needed exchanges to be used as intended. Turns out, once the intent became "make a lot of money", the exchange proved it's usefulness in convincing a larger group of people in the value of the currency. Turns out, you can't have these types of exchanges without regulation to ensure the safety and security of said currency.

Who knew?

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TheNewGirl_ t1_ixo7iic wrote

without an exchange how the fuck do I spend my crypto on goods and services

most the places i buy shit I need from dont take crypto

If you are saying I personally have to find peer to peer trades to get cash for my crypto everytime I wanna actually spend it , how the fuck is that better than normal money that doesnt require that extra bullshit

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Warmstar219 t1_ixojrsv wrote

Some people just can't get it through their head that crypto is objectively worse than regular money in almost every case.

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freeman_joe t1_ixpsp1d wrote

https://nomadcapitalist.com/finance/offshore/your-bank-account-is-no-longer-sacrosanct/

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Liraal t1_ixpyxlg wrote

I read your comment history for context to this random link and can't say I'm surprised. Posts to CC and collapse, shills random crypto and dismisses criticism as FUD. I did not even need to open the article to predict which way (ancapistan) and how much (very) biased it was going to be.

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freeman_joe t1_ixpz69t wrote

What criticism I dismissed as FUD?

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Agent_Angelo_Pappas t1_ixq1jck wrote

>“Account made few days ago hating on crypto”

You, three days ago, responding to someone voicing criticism you didn’t like hearing. You need therapy bro, not crypto.

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freeman_joe t1_ixq8hzq wrote

Yes because out of nowhere there was this account and commented only on nano sub. I had many discussions with people about nano who responded with normal critical points. Not just some random account like this made 3 months ago and mostly commented nano negatively. That is suspicious. And I didn’t dismiss him as FUD.

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Agent_Angelo_Pappas t1_ixq95wc wrote

Sorry, I couldn’t read this comment because I was too distracted by the screeching sound of goalposts being moved.

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freeman_joe t1_ixpzdhc wrote

All centralized solutions lead to abuse of power. Simple example of centralization are dictatorships. When one person or small group have all the power they will abuse it. Article I provided shows that it happened with bank same happened with FTX.

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ostralyan t1_ixoc7f7 wrote

Usually, I just use cash for goods and services. Sometimes credit.

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wyvernx02 t1_ixqb2z6 wrote

>how the fuck is that better than normal money that doesnt require that extra bullshit

Because it's not, and if you somehow thought it was, you fell for the grift.

You are trying to treat crypto like stocks instead of the shitty fake currency it actually is.

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timmerwb t1_ixop24j wrote

Why do you care? It’s clear you’re not on board. That’s ok. Stick to “normal” money. I’m sure you’ve got something better to do.

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QuintoBlanco t1_ixp0yax wrote

People care because it affects everyone, not just people who love crypto.

Things were fine when people were mining with their personal risk. But now crypto creates financial instability and it uses too much energy.

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timmerwb t1_ixq54lq wrote

I see OP cannot be bothered to answer - that is the level of interest of these moronic down voters. It's not 2008 btw. I don't know a single person "affected" by this - and that includes me, someone with huge cryptocurrency exposure since 2016. And FYI, Ethereum doesn't use proof of work mining. Again, you are clearly someone who knows little about the subject but yet feels the need to comment mindlessly on it. Please stop spreading FUD.

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QuintoBlanco t1_ixqth8e wrote

Your sphere of knowledge isn't reality.

Bankruptcies affect creditors. People who financially rely on those creditors are also going to be affected.

The use of energy to create a virtual currency also affects others. Energy is not a infinite resource. Generating energy pollutes the environment.

Mining farms affect the neighborhoods they are in.

They can create noise and the power requirements might mean that power companies need to break up the street to install extra cables.

Mining farms also put a strain on the availability of microchips. Each boom in mining has created shortages in the microchip market.

Also, you either replied to the wrong post or you simply don't know how to read. I never mentioned proof of work mining.

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timmerwb t1_ixqv8f1 wrote

Mining farms employ proof of work. Services like YouTube and Amazon use more energy than Ethereum (proof of stake). But, as I said, you’re clearly not interested in reality.

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QuintoBlanco t1_ixqxt0j wrote

Are you suggesting that I think Amazon is a great thing?

I didn't mention a last argument. My main problem with crypto is that so many people who like crypto are sad cunts who get upset and start to cry when somebody disagrees with them.

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