Pump-and-dump schemes, fraud, ransomware, multi-level marketing, spam, incentivizing selfishness, greed, and general unethical behaviour, buying elections, quasi Nazis creating their own coins, et cetera. In my opinion, over the years the evidence has piled up tall enough to show that crypto"currencies" are an overal detriment to society.

It therefore surprised me to discover that behind the ♡ donation button on top of most Lemmy instances except for Beehaw, there is an option to donate “crypto”. This sets a bad example. Thoughts?

  • Dr. Quadragon ❌@mastodon.ml
    71·
    2 days ago

    @arsCynic Newsflash: any currency under the Sun works like that. And stocks. And options. And any other form of speculative wealth.

    And most of wealth on Earth is just that - speculative. The gold standard was abolished long time ago, and, some might say it’s for the better. Look it up.

    Yeah, that paper in your pocket isn’t based on anything tangible. It’s just paper we agree is valuable. It’s not real in the same way a knife is.

    Crypto is just a little bit more open about it. It’s just lines of math we agree are valuable.

    And scams have existed in traditional currencies long before cryptocurrency. Same as currency trading, aka “encouraging you to buy more if it”.

    So, if you want to hate on anything, hate on a concept of currency and speculative wealth in general. Cryptocurrency is just the latest form of it.

    And, frankly, it’s just useful for avoiding unfair shit like international sanctions aka some fat cats deciding to bar me from donating or receiving funds

    @CaptainBasculin