Posted on 12/25/2023 7:34:17 AM PST by Theoria
You need to read my ENTIRE post.
Crypto is the libertarian dream that turned into a criminal nightmare.
There are many Freepers out there who are still falling for the crypto scam—regardless of whether you are one of them.
They need to listen to my message.
About 70% of crypto mining happens in areas with surplus energy (like hydro) where it consumes power during the hours when people aren’t using it.
The whole “crypto mining isn’t clean” is a canard.
Crypto is just another private currency. Of which there have been many. And most folks have even used some of them. S&H green stamps, camel bucks, credit card points. It’s a long long list. The only real difference for crypto is that is uses the internet to be faster and less trackable. It is neither a dream nor a nightmare. It is simply there.
You don’t have a message. Other than showing you don’t actually know what you’re talking about.
“Crypto is just another private currency.”
The millions of people all over the world who have lost their life savings to the scam would tend to disagree with you.
I don’t know anybody who went broke collecting green stamps.
Lots of people have lost money on private currencies in the past. Basically what you’re doing is looking at how Jordan Belfort screwed people over and declaring the entire stock market a scam. Meanwhile, back in reality, you’re wrong.
Are there scammers? Yes of course.
Can you lose money on it even without a scam because in the end it is a spec market and random stuff happens? Absolutely.
Is it all a scam? Nope.
Can you make a real living in it? Yes, just like with any other spec market if you combine smarts and a bit of luck you can totally do it for a living.
There was about a year of my life where I actually made money gambling at a local casino.
It can be done.
There are professional gamblers—and some folks are good at it.
However most people lose.
That is why Las Vegas has the skyline it has—losing gamblers paid for that.
If “Chinese nationals” use crypto to escape detection on moving money into the U.S., you know damn well the CCP does it as well.
For lawful customers and transactions, that would be an appealing and secure alternative to bitcoin and other cryptos because it would hammer the credit card industry by forcing them to reduce or drop their transaction fees beyond the minimum needed for fraud prevention. They would end up as mostly consumer lenders. A smart and disruptive credit card company could go that route first and quickly become the card of choice for many merchants if they did not charge the current hefty transaction fees.
As for bit torrent, it effectively steals revenue from content creators, but since content piracy is illegal, bit torrent has not destroyed content creation. Similarly, if bitcoin and other cryptos were made illegal if they did not follow banking regulations, they would soon be marginalized. Yes, they might persist as a way to pay anonymously like cash, but the dramatic run up in crypto value would be reversed. With crypto mining becoming less profitable and perhaps made illegal, the current crypto enterprise would be in jeopardy due to inability to promptly clear transactions and competition from cryptos backed by actual currency.
Yes, taxes have always been with us, long before money was invented. But how much cash you had was your business as long as you coughed up what was considered ‘your fair share’. Banks weren’t required to report ‘suspicious activity’ until relatively recently.
And now you’re off in red herring land. So we both know the facts and logic are against you. But you refuse to admit you’re wrong.
conversation is done. Have a great Christmas.
In addition to China I would think North Korea is deep into crypto.
But there’s no reason to do that. The POINT of crypto is getting AWAY from the dollar. If people who wanted to use it as simple EFT they’ve already got a million ways to do that (Googlepay, Applepay, Venmo, debit card...).
You can have lawful transactions and not feel a need to get the government involved. Think yard sales.
Just because the torrents haven’t killed content creation doesn’t mean the whole process hasn’t damaged the industry. But torrenting is definitely not marginalized. And non-crypto won’t be either. And none of it will be less profitable. Because, again, basically NOBODY that is involved in crypto wants the government involved. Even the folks doing legal stuff want to be away from the government just because screw the government.
I tried to find out what crypto currency mining is but it is way above my head....
When you are not sure who the mark is in the crooked poker game—it is you.
;-)
Cryptocurrency should not be allowed it’s a way to hide deals and taxes and grab power.
The Chinese aren’t the only ones making a grab for power that nobody sees until it’s to late.
This is how the deep-state will get “conservatives” to agree to fully digital Fed.gov money.
I left our family Christmas get together tonight after telling them about seeing this, this morning.
I’m home now and sending a link to the story so they’ll have a better understanding of it - AS IF!!!!! That would take from now until next Christmas to get a handle on it. We had too many questions.
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