When the power goes out was the internet a scheme too? Is HVAC a scheme? Street lights? Radios?
Crypto is just numbers. It can be used in schemes but is not a scheme itself, unless you consider all monetary systems a scheme, which is true. But unless you want to revert back to living in tribes of no more than 150 people, some sort of monetary device is a necessary evil for the modern world.
Crypto is the only monetary system which can function in a trustless, decentralized manner that I'm aware of. What do you propose as an alternative which enables global trade, and can be free from central bank fuckery?
The 3 problems with crypto as a whole are it's dependence on the internet and electricity, and speculative trading for fiat profits.
We can decentralize internet and electric infrastructure to solve the first two. The 3rd can only be mitigated with education, and shifting to the pursuit of happiness from the pursuit it profits.
The real scheme was tricking everyone into trading their lives and real world assets to a ruling class which offers nothing but imaginary debt in return.
At least with crypto we the people can create our own rules for an imaginary number system, and use it as an instrument of freedom, not a method of enslavement like is being used against us now.
Hate on crypto all you want, but unless you provide a real critique and viable alternatives you're not much more informative, inspiring or thought provoking than government propaganda.
Not to mention how much more vulnerable bank money is due to it's centralization. Power and internet connectivity aside it also relies on one single server, often multiple single servers with multiple parts involved, for instance, a bank, a card processor and some other middle men who all want their cut. Particularly during international trading.
Here in Sweden the largest grocery store chain with over 100 stores where forced to shut down for days, because of one server going down in Florida, that's a fucked up dependency right there. And it's not just the legacy banking system, their whole inventory tracking system relied on one company which relied on that one single server, so they couldn't even take cash.
Imagine instead with crypto, in a fully decentralized blockchain economy, where all systems are decentralized and platform independent, that chain would have had their own servers in their own stores, if power goes out, no problem, they just have a set of printed QR code which the customer could scan and send the payment too, then they register all the items manually as soon as the power comes back. Internet goes out? no problem, mesh networks, wifi, Bluetooth, 4G/5G and many other protocols solves that problem, especially when the servers are in house.
Blockchains has the potential to replace every single big tech company and power everything from apps to websites, all by using the client machines instead of relying on massive data centers. It's a multi billion dollar industry and the only payment method that works is crypto because otherwise it wouldn't be a decentralized blockchain.
It's the precious metals of the digital world. It's also operating under the same principles, the supply if fixed, not just on this planet but for the whole universe. Although it's unlikely, there is always a small chance that a large lump of solid gold or silver falls down from the sky and land in your back yard.
This is wrong. Fiat is issued by a central authority and can be hyperinflated. (And historically always is). It only comes into use in the first place due to government forcing people to use it. Via legal tender laws, capital gains taxes, bank secrecy act, income taxes, and other forms of coercion. Anyone trying to compete with them has his life destroyed. See Doug Jackson of e-gold for example.
Bitcoin on the other hand, has the same properties as gold: Scarce, limited production, durable, fungible, divisible, recognizable (difficult to counterfeit), portable, minable by anyone, and without any central issuing authority.
That is why Bitcoin has gained users and increased in value. Not because some bureaucracy forced it onto anyone by dictat, but instead purely through the "invisible hand" of natural market forces. Which again, is the same as gold.
When the power goes out was the internet a scheme too? Is HVAC a scheme? Street lights? Radios?
Crypto is just numbers. It can be used in schemes but is not a scheme itself, unless you consider all monetary systems a scheme, which is true. But unless you want to revert back to living in tribes of no more than 150 people, some sort of monetary device is a necessary evil for the modern world.
Crypto is the only monetary system which can function in a trustless, decentralized manner that I'm aware of. What do you propose as an alternative which enables global trade, and can be free from central bank fuckery?
The 3 problems with crypto as a whole are it's dependence on the internet and electricity, and speculative trading for fiat profits.
We can decentralize internet and electric infrastructure to solve the first two. The 3rd can only be mitigated with education, and shifting to the pursuit of happiness from the pursuit it profits.
The real scheme was tricking everyone into trading their lives and real world assets to a ruling class which offers nothing but imaginary debt in return.
At least with crypto we the people can create our own rules for an imaginary number system, and use it as an instrument of freedom, not a method of enslavement like is being used against us now.
Hate on crypto all you want, but unless you provide a real critique and viable alternatives you're not much more informative, inspiring or thought provoking than government propaganda.
I love the power goes out and society collapses gotcha point; “what’ll you do with your useless crypto then?”
As if the money I have in the bank is any more useful at that point…
How would I even spend my money or access it with no electricity? Or where?
If you aren’t holding it in your hands, then it may as well be imaginary
Not to mention how much more vulnerable bank money is due to it's centralization. Power and internet connectivity aside it also relies on one single server, often multiple single servers with multiple parts involved, for instance, a bank, a card processor and some other middle men who all want their cut. Particularly during international trading.
Here in Sweden the largest grocery store chain with over 100 stores where forced to shut down for days, because of one server going down in Florida, that's a fucked up dependency right there. And it's not just the legacy banking system, their whole inventory tracking system relied on one company which relied on that one single server, so they couldn't even take cash.
Imagine instead with crypto, in a fully decentralized blockchain economy, where all systems are decentralized and platform independent, that chain would have had their own servers in their own stores, if power goes out, no problem, they just have a set of printed QR code which the customer could scan and send the payment too, then they register all the items manually as soon as the power comes back. Internet goes out? no problem, mesh networks, wifi, Bluetooth, 4G/5G and many other protocols solves that problem, especially when the servers are in house.
Everyone jumping on this scam money while I’m busy burying precious metals in my backyard lol.
That’s a yolo trade for sure. Probably trying to scalp a small move on Monday. No way these print at expiration
Same with crypto...
Blockchains has the potential to replace every single big tech company and power everything from apps to websites, all by using the client machines instead of relying on massive data centers. It's a multi billion dollar industry and the only payment method that works is crypto because otherwise it wouldn't be a decentralized blockchain.
It's the precious metals of the digital world. It's also operating under the same principles, the supply if fixed, not just on this planet but for the whole universe. Although it's unlikely, there is always a small chance that a large lump of solid gold or silver falls down from the sky and land in your back yard.
This is wrong. Fiat is issued by a central authority and can be hyperinflated. (And historically always is). It only comes into use in the first place due to government forcing people to use it. Via legal tender laws, capital gains taxes, bank secrecy act, income taxes, and other forms of coercion. Anyone trying to compete with them has his life destroyed. See Doug Jackson of e-gold for example.
Bitcoin on the other hand, has the same properties as gold: Scarce, limited production, durable, fungible, divisible, recognizable (difficult to counterfeit), portable, minable by anyone, and without any central issuing authority.
That is why Bitcoin has gained users and increased in value. Not because some bureaucracy forced it onto anyone by dictat, but instead purely through the "invisible hand" of natural market forces. Which again, is the same as gold.
Bitcoin is digital gold.
Very long winded without saying what is it based on... which is still nothing.
Crypto is this case, is a Hollywood MLM and Steve is not at the bottom of it.
From the same twatter thread:
https://files.catbox.moe/4jzmg8.png
Reconfirm: https://finance.yahoo.com/quote/SPY/options?date=1634860800&straddle=false
Implied Vol% at 12.23% (historical 15.93%)
https://www.barchart.com/etfs-funds/quotes/SPY/options?moneyness=allRows&expiration=2021-10-22-w&view=sbs
Nuttin to see.
Most actors suck at investing decisions, I fail to see how Buscemi would be any different... Time will tell.
SPY is a stonk, not a crypto...