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Mr. Freeze

The ongoing cryptocurrency crash

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Yeah, good riddance!


To be fair, I think that the end goal of the more hardline ideological ones is to eventually replace fiat currency altogether, rather than being compared to it. I don't think that would be wise, we already depend on computers way too much as it stands, and just more stuff keeps relying on computers, the negative effects of which are clear and only increasing.


Either way, in my opinion, the manifestation of currency is mostly irrelevant to the way in which society is organized, even economically. We should focus on ways to have our own means of production, to compete against the upper echelons of the private sectors. And I mean, we don't even need to have our own MoP for things to be better. There are countries in which state-owned companies compete against private companies, and just the competition itself just keeps either away from becoming a scamfest.

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It's only one particular coin and it's ecosystem that was subjected to a market manipulation attack due to a flaw in it's financial algorithm and the creator's own hubris. The coin(s) involved (LUNA, TERRA, UST, whatever) are now dead.


There is quite a bit of contagion because it has effected the entire crypto market as a whole, but I would say this is a temporary set back and if you're hoping for the end of crypto, this isn't it. This will probably cause regulators to step in and possibly further legitimize cryptocurrency in the future. Remember that there are already tons of big financial institutions in this market now.

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23 minutes ago, Crystal-Hawk_D00M said:

Does this mean that grifters will actually get jobs now?

No. There's always another grift.

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38 minutes ago, gwain said:

why are so many people in this thread against crypto?

It's just normal sense to be honest.

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59 minutes ago, gwain said:

why are so many people in this thread against crypto?

I participate in crypto. But honestly, outside of profit-driven price speculation, there doesn’t seem to be any solid productive use case for it yet.


The current market is also full of scammers

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