87
Opinion | Don’t Get Fooled Again by Crypto
(www.nytimes.com)
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 10 Aug 2024
87 points (100.0% liked)
Technology
37574 readers
279 users here now
A nice place to discuss rumors, happenings, innovations, and challenges in the technology sphere. We also welcome discussions on the intersections of technology and society. If it’s technological news or discussion of technology, it probably belongs here.
Remember the overriding ethos on Beehaw: Be(e) Nice. Each user you encounter here is a person, and should be treated with kindness (even if they’re wrong, or use a Linux distro you don’t like). Personal attacks will not be tolerated.
Subcommunities on Beehaw:
This community's icon was made by Aaron Schneider, under the CC-BY-NC-SA 4.0 license.
founded 2 years ago
MODERATORS
Yes, crypto people keep getting fooled by record breaking prices. So sad.
The prices don't mean anything if no one is paying it, which if something is at said 'record breaking' levels, means there is at least 1 fool out of the 2 involved.
It's still just a pyramid scheme in the end, because if I'm trading ammo or a sandwich or pigs or something, at the end of the day if no one wants to buy them from me I can still use them myself.
With crypto, there will by definition be someone holding a valueless and unusable item at some point. Whether or not the opportunity to make money in the time before that happens outweighs being involved in a pyramid scheme, is what everyone has to ask themselves (and be judged for depending on their answer).
You can argue about whether all money is the same in this regard, but there have been hundreds of crypto coins that have failed since the last fiat currency died.