To be fair you are vilifying crypto here. You’re just saying it’s justified. Which proves its vilified. Im not even into crypto but it’s value proposition starts to look better in this context.
Anybody who thinks cryptocurrency is in the class of assets which are "supposed to be able to sit there growing in value" really hasn't been paying attention.
It’s a shame we have arrived at this point where it’s ok so just be negative about anything crypto. Yes there is a lot to hate. But everything, without further arguments? At the very least it is intellectually dishonest. I find it short sighted.
When you are negative about crypto because x, y and z, you should cut them some slack when they solve x or y or z.
I have the same amount of crypto holdings that I had 20 years ago: zero. I’m considering buying some as part of my overall asset allocation at some point, but so far have not as they seem like electronic magic beans in some ways. Bottom line: I’m far from a crypto advocate.
I am experiencing your argumentation style in this post as having a significantly greater amount of hysteria than emphasis.
I love how these conversations always come up in relation to defi/crypto.
I don’t know what world you live in, but it’s like you guys believe there is some kind of ethics or moral high ground in sneering at something you barely understand.
Same arguments from both sides, different day. So tired of the self-righteousness of both sides. The reality is that there are use-cases that are useful today with crypto. The reality is also that the vast majority of money in crypto is there for speculative reasons, not fundamental value. That's fine, it's a bet, stop caring about where people put there money. If you don't want to make a speculative bet, then don't. If you made a speculative bet and it paid off, no you are not a genius. No one cares, no one shows shit about fuck, let's all stop pretending and just understand that speculation != investment grade and allow for people who want to take significant risk on speculative bets.
When we raise concerns about crypto’s riskyness, people like you show up and say “investment involves risk” and frame crypto as a speculative investment. Then when you’re gone someone else will show up hyping Bitcoin/Ethereum as a currency that will change the world, which implies that it is or will be stable enough to use to pay for goods and services (as opposed to being a vehicle for speculation).
Our frustration stems from our inability to get both of you in the same room to duke it out once and for all.
I'm feeling pretty smug right now, not gonna lie.
I have tried to keep an open mind about crypto, but generally the arguments I've encountered for crypto have boiled down to "you just don't get it" and said by people with a huge vested interest in crypto.
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