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Joined 27 days ago
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Cake day: April 26th, 2025

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  • It’s a bit different when the developers and early adopters are the ones perpetuating the grift. It’s a digital money system with aggressive deflation and unregulated trading. Fraud is natural? Not coding to prevent fraud is implicit permission to commit fraud. Crypto didn’t spawn out of a vacuum. They didn’t somehow not know their virtual fake money was going to be used to grift and scam people.

    Regular banking transactions cost fractions of a cent in electricity, as they don’t have to do exhaustive amounts of proof of work. Bitcoins value is somewhat tied to the electrical cost of generating a bitcoin.

    Hilarious, again to suggest that the creators of fake, unregulated stock markets for fake money are in any way not aware that they can be used for very real scam and fraud and are thus y’know, responsible to regulate it or responsible for the unregulated damage.

    A physical object with physical design limitations. A thing that can then physically be broken and abused, not software that can be abused well within the design limitations. Memeable.


  • I find them quite necessary. The derision is part of the point. So many people treat cryptocurrency like something to be venerated when it’s just a bunch of bullshit.

    Bitcoin forked into bitcoin classic, in order to undo a transaction. I’m aware this isn’t a trivial process, but it protects those with power and capital and has no function to protect those who do not. The issue is that this is completely ran by capitalists and has no oversite, obviously banks have plenty of ways to fuck you over, that’s why they’re regulated.

    Yes that is an issue. I’m suggesting that “cryptocurrency” as a solution to that issue is just as much of a solution as any other investment vehicle and isn’t something crypto is in any way uniquely suited to solve. Civil forfeiture is theft and unconstitutional.

    There is no mechanism through which accountability can be held. That is entirely the point. You can “judge” them individually all you want but the ecosystem is uniquely suited for abuse.