Opinion Crypto Currency Pisses Me Off

[12ga.]

I just hate you cant buy a decent video card because miners are filling entire warehouses with mining farms of them. Nvida and AMD can not produce enough so prices re 3-4x retail at high-end like 3070/3080 RTXs.. I just have a rule $300 max for video card so I'm still using an old 970 GTX. I don't play a lot of video games but one I do play needs more.

 

[12ga.]

Worked for a Blockchain company in 2018. Worked very closely with the senior blockchain engineer / CTO.

Everything he told me about crypto has so far come true, despite me doubting him. Ive been taking his advice ever since when it comes to investing and hes been on the money.

he thinks crypto will skyrocket in the event of economic collapse

I wish I would have listened to this crazy IT guy in our department (arnt they all?) who filled his entire garage with servers and used our city computers in off hours to make bitcoins. We're talking like 2001 when he tried to convince me to fill my garage too ...and he made 22 million selling for like $200 each.

 

[LoveHateLove]

Crypto is garbage

 

[MoparOrNoCar]

Fuckin magnets piss off ICP too but that doesn't mean they don't work.

 

[m25105]

Crypto is garbage

Hate making money, huh?

 

[Boxiana]

What is the advantage of crypto over regular currency for the average person (who isn’t looking to speculate on its value)?

I’ve never seen a good answer this question.

 

[m25105]

What is the advantage of crypto over regular currency for the average person (who isn’t looking to speculate on its value)?

I’ve never seen a good answer this question.

Your assets are secured cryptographically and is not bound to the whims of the institutions in regards to access to it. A good example was Greece in 2008 when people were only allowed to withdraw 60 euros per day from an ATM. With assets that is secured cryptographically, there's no central institution that decides that, instead it's decided by math and physics. You have 100% control of it.

Putting cryptographic assets also in different DeFi protocols, allows you to earn yield on it, anything from 3.5% to 100% (less yield is more secure) which even the lowest rate is still something far better than any bank would offer you. And since it's bound in a smart contract, you don't have to worry about it being locked up.

A lot of people are going to be very late in figuring this out, those that got in, are making money hand over fist, and are going to make a lot more.

 

[Boxiana]

Your assets are secured cryptographically and is not bound to the whims of the institutions in regards to access to it. A good example was Greece in 2008 when people were only allowed to withdraw 60 euros per day from an ATM. With assets that is secured cryptographically, there's no central institution that decides that, instead it's decided by math and physics. You have 100% control of it.

Putting cryptographic assets also in different DeFi protocols, allows you to earn yield on it, anything from 3.5% to 100% (less yield is more secure) which even the lowest rate is still something far better than any bank would offer you. And since it's bound in a smart contract, you don't have to worry about it being locked up.

A lot of people are going to be very late in figuring this out, those that got in, are making money hand over fist, and are going to make a lot more.

Thanks for responding. Agree on the control point, but I think the speculative nature and wild value swings are putting a lot of people off, along with the overhanging threat of governmental intervention.

 

[m25105]

Thanks for responding. Agree on the control point, but I think the speculative nature and wild value swings are putting a lot of people off, along with the overhanging threat of governmental intervention.

Stable coins.

 

[Boxiana]

Stable coins.

Counterparty risk.

 

[m25105]

Counterparty risk.

Up to you mate. The reason why the crypto and defi are risky, is because of the open source nature of it that makes it obvious. Traditional finance isn't obvious because it's hidden behind opaque terms. It boggles my mind that people rather put their money in an investment bank, barely make 1% interest on it, and have the bank throw their money around with you knowing every detail. With DeFi I have control, I know where it is, and I can pull it out whenever I want and put it something new.