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this post was submitted on 27 Jul 2024
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politics
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I feel sad for a lot of people in crypto. There's a certain sense or feeling of disenfranchisement among the American people, which is how people like Trump gain favor in society. Trump promises you everything and lies about all he takes away. He's seen after all as some "alternative to the establishment", an establishment that has exploited and fucked over the people over and over again. In a sense, this disenfanchisement, economic disenfranchisement affects people into crypto. Never underestimate the power that poverty and economic hardship has in making desperate people delusional.
Trump is a rich old white racist man with no talent who made money off daddy's fortune.
He's the embodiment of the establishment. This makes sense since that's what they want to go back to.
They forget that's what led them here.
You feel sad for people who realise it is way better to be in control of their own wealth and not hold their value in something that other people can just print on a whim? You feel bad for people who don't want the only way to hold onto value (that doesn't inflate away) to be buying businesses or expensive real estate which the average person can't dream of affording? What a peculiar reason to feel sad for a group of people.
I feel bad for people who know nothing about a topic and trick themselves into thinking they are such an expert that they are forced to pity people who have turned an idea into the 9th largest asset in the history of the world without any centralized governance.
Don't get me wrong, if they actually researched and were educated in the subject, I'd have no issue with people taking a risk in investing in something like crypto, but the fact remains many Americans are ill suited and uneducated when it comes to finance, investing, and technology. Plenty of people have played and deal in a manner that is similar to speculation and or gambling when it comes to crypto, buy in, and are equally fucked because of it. Not too mention the various influencers who take advantage of their audience and really fuck them over in pump and dump schemes.
Yeah, I guess I see a massive difference between Bitcoin and crypto as a group. Lots of crypto is scam, but Bitcoin isn't. Bitcoin is solid technology that finally gives people freedom to be in control of their own store of value. Crypto largely came along to leech off of this revolutionary idea.
Ehhhh I'm more on the Monero train. Though I don't own any of it. Just like the tech and privacy of it.
Monero does have some nice aspects. Lightning takes care of some of it on BTC, although not entirely. I wouldn't be too surprised to see even more in that direction on layer 2.