Orange says: Sometimes I find myself wondering how many of the people who are calling cryptocurrencies a "scam" and "fraud" are also the SAME people who called the Internet a "gimmick" and "a passing fad" 20 years ago. What do YOU think?
Cryptocurrencies, a Scam? Seriously, folks...
7 years ago by denmarkguy (76)
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I was handing out 1 BTC physical bitcoins (metal coins with the private key under a security sticker on the back) to university economics professors in 2012. As souvenirs as conferences I was attending. Those who didn't throw them away now have a souvenir trinket worth well over $8,000 :-)
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Wow... I guess this would have been when Bitcoin was $5-10? One would like to think these people held onto them; at least tossed them in a desk drawer. I guess if they were thrown away they would now be part of the suspected "missing" Bitcoin... I remember reading an article suggested as much as four million Bitcoin may simply be gone from the supply due to one thing or another... don't know if it's true, but it would seem like occasional "shrinkage" could happen.
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Why such people are not judged alone lest there be no more deception scams
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I do not know how much, may be, I can agree with you in this, because sometimes it is difficult to know when an approach is philosophical, captious, metaphorical, literal, rhetorical or simply a rational approach. With regard to what is written in this publication, I ask myself the same question every day and, even though I analyze it coldly and objectively with all the statistics, histories and objective information that I have at hand, I have not been able to determine with sufficient certainty: "that the cryptocurrencies go". Apparently they really are the future of monetary and information management, safe, democratic, decentralized and truthful. Unfortunately, like almost all systems created by humans, cryptocurrencies are schemes of Ponzi Pyramids, ergo is born weak as a possible "scam", and in the long run it (bubble) could explode, by stopping receiving "new clients" and "more fresh money" ; which could generate a debacle of proportions similar to the financial crisis of the 90s with the "Asian Tigers" or even the ugly fall with the positions and investments of the" web pages and the Internet", in recent years.
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Of course, it's difficult to see for sure where the cryptocurrencies will go. At the moment, there is a lot of skepticism in the greater public... much of it related to people's concerns that it is just "made from thin air."
For me, there is little doubt that the underlying blockchain technology is here to stay... and will have many applications aside from driving these currencies. Also, there are now 1000's of coins, so I have little doubt that some of them will become valueless... while others will become recognized standards for money in the time ahead.
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Guess this is a biased place to be discussing it since we all are part of it already. But it's true, some people dont beleive in new things until they start to prove otherwise. Cryptocurrency is here to stay and i love to have discussion with the people around me about this topic. Keep talking, keep discussing!
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Well yes, we're predisposed to having a favorable impression, but even here there's variety... some are "in" but from the perspective that it could all vanish tomorrow... while others think it'll be the future of all finance in another 20 years.
I personally think cryptos are a bit like the Internet... the "modern' Internet has been around for 25 years, and the current "reach" is nearing half the world's population. I expect some form of crypto coins/tokens will be used by maybe half the world by 2040. Just speculation.
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I think cryptos will take off way faster than the internet and reach mass adoption by 2020 like they already have in Nigeria (for real!)
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I was going to comment but @everittdmickey about said it all, So...
Cheers
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Good by me. Everitt usually has a lot of angles covered...
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It's pretty likely honestly.
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Certainly seems to me it would be from the same mindset. Some people almost seem wired to harbor deep suspicion of anything "new."
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Well, 25 years ago, I said of the internet...
'this will be the biggest change to society since the invention of wheel...'
On crypto's...
this will either be the abolishment of cash, and a new world government, and the end of freedom.
or/
this will be the beginning of the end of government as we know them, and money as we know it. Giving everyone more freedom than ever before...
I prefer the latter, but know how evil the gvmnt are, and how much they will do to maintain the power grip...
They are more committed to totalitarianism, than we are to freedom, it seems to me. (imo)
This is not about right or wrong, just winners, losers, and who wants their system most.
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Seems to me a lot of people are worried that governments will come in and intervene with cryptos and try to outlaw them... I don't really see that happening. I think it far more likely that governments will issue their own "coins" and try to persuade the markets that government coins are somehow better/safer than the independently created ones... and some people will believe that, and some will not.
It's hard to say how things will change, though... but I expect it will be a pretty gradual process, rather than a sudden one. Cryptos just passed $250bn in market cap... suggesting to me that the time for government intervention/prohibition has already come and gone.
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..........He called Congress into an emergency session on March 5, 1933, less than 1 day after his inauguration.
"An Act To Provide Relief In The Existing National Emergency In Banking, And For Other Purposes"
...Order 6260 revoked and superceded 6102. These laws in short order made it illegal (a federal crime with outrageous penalties of a $10,000 fine and/or 10 years imprisonment) for any law-abiding US citizen seeking to protect his wealth
Crypto is a million time easier to control, and take control of, than any gold coins under your mattress.....
Argentina. October, 2008.
The government of Argentina moved private pension funds into the government social security system. Government seizes over $30 billion in private pension funds.
...bail ins in cyprus, more bailins due (and the dropping of saver protection laws, just put forward this last week)
Historically speaking, government have a shite record in upholding morals and ethics...
I don't see why new technology makes this repeating cycle of screwing the people, will be different this time around.
To_ NOT_ do it, would be the anomaly in previous behavior patterns...
To not do it, would be the banking system holding up a white flag, and giving up all its power it has held over 'us'.for the last 200 years, at least.
You see why I am a bit skeptical...?
Just sayin'
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White flag? Or simply a case of greedy opportunism? The "we can just issue our own" might be seen as more profitable/less expensive than trying to block an "it" that has no central location you can move against. The US Goverment could ban BTC to their heart's content, but people would still buy it from non-US exchanges and still hold it.
But I can appreciate your skepticism.
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the problem with the 'greedy opportunism/issue there own crypto' paradigm, is that it will still lead to decentralized money, ergo a loss of power.
Controlling the money has nothing to do with money. All to do with control.
If the masses get it into the their 'collective psyche heads 'that we don't need centralized governments money, then they will still - ultimately- lose the control they crave.
(a psychological perspective, not money one)
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government is slow, stupid and insane.
it's like an elephant trying to catch coachroaches.
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comparing government to an elephant has to be the most insulting analogy I have ever heard !
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to the elephant?
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It is their lack of knowledge about cryptocurrencies, nothing else. Dear I participated in @juliank photography contest. I hope you will love my submission, have a look.
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True, lack of knowledge often leads to skepticism, leading to people saying "I don't need that."
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I do not mind, but your cat is nice
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I have not been able to determine with sufficient certainty: "that the cryptocurrencies go". Apparently they really are the future of monetary and information management, safe, democratic, decentralized and truthful. Unfortunately, like almost all systems created by humans, cryptocurrencies are schemes of Ponzi Pyramids,
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I love the suspicious but wise look of this ginger cat!
He is thinking "Those guys that talk about cryptocurrencies are all silly beggars"
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Hellllo
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