At the time of the announcement, the moderators of most of the subreddits involved with the community points program claimed to be unaware of the decision.
It’s a cult too. It feeds on hype and marketing so people will say anything to keep the value of their worthless investments up. That’s probably why you’re getting a couple downvotes even though you’re 100% right. Wouldn’t be surprised if some coins got big from bot network spamming on social media.
Edit: they won’t even argue about it, they just keep downvoting. Proves my point exactly.
Crypto is used to scam, it doesn’t mean the technology or the idea is a scam. I find it really ironic how Lemmy seems to hate it so much. I don’t have any investment in it anymore because I don’t like how profit-focused it became but I first got into it for the same reason I’m here on Lemmy, Bitcoin was an open source and federated alternative to money. Anyone could run a node and mine it. No more proprietary apps like PayPal.
While I don’t think we will ever recapture the original spirit the tech had in the early 2010s I do find it quite sad that people think crypto = scam. Is HTTP a scam because scam websites exist? Are phones a scam because scam calls exist? I really wish people would separate the underlying technology (which is actually really cool) and the people using it.
I can totally see how it used to be more ideal, however it’s been completely perverted from a legitimate currency into a MAGA-style investment fraud cult. At this point people need to start denouncing crypto- every new crypto project now is a get rich quick scam and people who don’t know any better will fall for it. I think that crypto’s days are numbered, coins will probably be heavily regulated by the end of the decade.
Besides all that, my personal opinion is that investing in “nothing” is scammy. There are no physical or heavily regulated securities like when you invest in stocks, precious metals, and art.
The physical value of it is what gets me. Or rather, lack of physical value.
Cash is real. We can hold it in our hands, see it with our eyes and so on. Similarly with a debit/credit card, you know what that physical card in your wallet represents, and you know what the amount tied to it is/means.
Cryptocurrency is literally just digital code made to be similar to money. But there’s no physical value tied to it. It doesn’t represent anything other than it’s code. If the world’s economies and governments were to suddenly fall tomorrow, we’d still have cash and other physically valuable objects to trade and barter with. You most definitely would not be able to walk up to someone with a hard drive of Bitcoin to trade for anything.
There are plenty of crypto projects which are not get rich quick scams. For example Monero is a community project which allows fully anonymous transactions. Ethereum is quite corporate but they are really working hard to improve the technology, like introducing staking. And there are many more, but it can be hard to distinguish them from the scams. Anyway it’s not as simple as crypto bad.
It’s a cult too. It feeds on hype and marketing so people will say anything to keep the value of their worthless investments up. That’s probably why you’re getting a couple downvotes even though you’re 100% right. Wouldn’t be surprised if some coins got big from bot network spamming on social media.
Edit: they won’t even argue about it, they just keep downvoting. Proves my point exactly.
Crypto is used to scam, it doesn’t mean the technology or the idea is a scam. I find it really ironic how Lemmy seems to hate it so much. I don’t have any investment in it anymore because I don’t like how profit-focused it became but I first got into it for the same reason I’m here on Lemmy, Bitcoin was an open source and federated alternative to money. Anyone could run a node and mine it. No more proprietary apps like PayPal.
While I don’t think we will ever recapture the original spirit the tech had in the early 2010s I do find it quite sad that people think crypto = scam. Is HTTP a scam because scam websites exist? Are phones a scam because scam calls exist? I really wish people would separate the underlying technology (which is actually really cool) and the people using it.
I can totally see how it used to be more ideal, however it’s been completely perverted from a legitimate currency into a MAGA-style investment fraud cult. At this point people need to start denouncing crypto- every new crypto project now is a get rich quick scam and people who don’t know any better will fall for it. I think that crypto’s days are numbered, coins will probably be heavily regulated by the end of the decade.
Besides all that, my personal opinion is that investing in “nothing” is scammy. There are no physical or heavily regulated securities like when you invest in stocks, precious metals, and art.
The physical value of it is what gets me. Or rather, lack of physical value.
Cash is real. We can hold it in our hands, see it with our eyes and so on. Similarly with a debit/credit card, you know what that physical card in your wallet represents, and you know what the amount tied to it is/means.
Cryptocurrency is literally just digital code made to be similar to money. But there’s no physical value tied to it. It doesn’t represent anything other than it’s code. If the world’s economies and governments were to suddenly fall tomorrow, we’d still have cash and other physically valuable objects to trade and barter with. You most definitely would not be able to walk up to someone with a hard drive of Bitcoin to trade for anything.
There are plenty of crypto projects which are not get rich quick scams. For example Monero is a community project which allows fully anonymous transactions. Ethereum is quite corporate but they are really working hard to improve the technology, like introducing staking. And there are many more, but it can be hard to distinguish them from the scams. Anyway it’s not as simple as crypto bad.
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what technology? slower database and you can’t edit it is the TEchnOloGy?