Wow so when influencers shill something is that also a scam? Or only when it involves crypto? I need to reorder my pink drink on Facebook with a TMB member to get my discount
again, this is why i stated i knew where the end of this argument goes as it always does. but also because people prospect that something has value (or are fed marketing that says so relentlessly in all aspects of society) does not mean it has intrinsic value
BTC is a scam (just say ponzi so I can get a bingo) and has no value/use. We're playing all the hits tonight. 2012 called and wants its poorly thought-out surface level talking points back. Surely this no use, no value, scam will go to zero after like 1 year. Or maybe 4. Oh shit we're at 14. Well one of these years my reasoning will surely make this hundreds of billions market cap disappear.
yes mostly to the bold it is especially when its nfts, again, something with no utility or value that has value because of vibes
yes i have a complete picture of your ideological underpinnings but appreciate the reiteration the narrative is clearly good and very coercive for people with certain priors or susceptible to the marketing
NFTs in the sense you know them have no value but y’all can be snarky and hate me all you want but I still made great money flipping NFTs a year ago sorry it bothers you
If you meant that the argument ends with you saying things like "scam" and "no value" and not supporting either point, then sure that's where this ends. There are countless articles and books addressing all of your silly points. I'd recommend them but would be wasting time for both of us. Good chat. Maybe bring more on scams next time.
You just said NFTs have no value Ticketmaster eBay Twitter Facebook Reddit StockX Nike they are clients that see the value…
I still like NFTs - 99.9% suck but the community aspect is no different than this CFB/political message board ¯\_(ツ)_/¯
The whole situation seems like a complete repudiation of decentralized finance. It reminds me of how the economy ran in the 19th century, when bad actors could completely derail whole national economies. Granted, these things still happen, even with today's regulations and oversight, but at least there is a money printer to backstop people's lives, so the effect and suffering is minimized.
It’s not a scam, it is an open source protocol, and everyone is just jealous of them. Is that a summary of the last five pages of defensive blabbering?
Literally nothing about FTX is defi, and this is coming from someone who has zero interest in and actively dislikes defi. This is a centralized exchange run by a grifter/con artist who stole customers’ money. So no, your point is incorrect. If anything, pro-defi people would argue that FTX is prevented by defi, which allows users to openly see where their funds are. It’s kind of the complete opposite of FTX and the opacity that enabled this in the first place. You should lay out for us the difference between FTX collapsing and what you think that has to do with btc or eth for that matter.
I’m not your puppet kiddo. To be clear, I’m a relatively neutral observer just watching the body blows. If I had to pick a side it would be post merger eth because it is sustainable and has a long term use case to eliminate brokerages and other financial leaches. Obviously the entire market is going to need adult supervision, but I see the value.
The lack of due diligence by investors into a company with these people as execs and zero board is astonishing.
Post-merger ETH where if someone was thinking “man this current environment is crazy id like to unstake my ETH,” they literally cannot do that because the code isn’t written. Nothing weird about that. Vitalik is just a slightly more dressed up version of SBF who premined a security, comes up with a new narrative every few years (icos, defi, nfts), peddles a world super computer, and largely dumps his premine on retail at the top of each cycle. He doesn’t manage an exchange like SBF, but the grift isn’t a whole lot different.
Some perspective for the btc scam crew. Identify on the chart where you would’ve posted the exact same thing and thought it was going to zero.
Also how much of this crypto run up to 60k was due to cheap real money and crazy access to leverage? Things that will probably never happen again in the crypto space
By crypto run up, do you mean the run up in basically all assets? Acting like crypto prices were the only thing that benefitted from central bank policy is some wild revisionist history.
I mean it existed but as with everything around that time I think stimulus checks were a greater percentage of that run up.
$1200 stimulus checks? Ehh probably not. Corporations and investment firms able to take on debt at all time low rates? Yes, probably so.
Stimulus checks and a major shift in how disposable income was utilized by the working class that was not impacted by the shut down. Once Applebees shut the doors people needed to find new places for their 2 for $20 money
Eh stimulus was definitely the major driving factor for things like shiba inu coin/ shit coins, nfts, etc hitting their highs. Especially with easy accessibility with things like Robinhood. Rates and cheap debt have definitely had their effect but we have had those conditions for a decade, the trillions of dollars injected into the economy was the major driver this time.
Quick Google search and the first article says "11% of young Americans invested their stimulus checks in crypto" without doing any further research Would also venture that most of this 11% used something like CashApp to "buy" their crypto. Stimmys didn't cause the needle to move.
Excess build up of capital due to a collapse of the most common recreation sectors is far bigger deal than relative peanuts stimulus checks. No sports, can't travel or go out to eat, money started to pile up.