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JBird
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Comments by "JBird" (@jbird4478) on "Scams, Zealots, and Jet Skis: Life Inside the Crypto Scene | Spiraling" video.
Just a word of advice: Most of these "early access" chatgroups that guy talks about are scams themselves. They tell you that you get early access, while in reality the real initial holders are offloading their coins onto you.
52
It was never a good idea to begin with. It is insanely wasteful (the crypto space uses about the same amount of energy as a small country). It is an easy way to launder money, trade illicit goods, and avoid taxes. Any legitimate user though, if it were used as a real currency, would have all of his purchases and dealings publicly available for anyone to see. Not that that would ever happen because due to the extreme latency on the network it will never be viable to be used as an actual currency.
33
They wondered around some people for a while, and made a pathetic attempt to get into a party; taking everything those people said at face value, and not doing any research or in-depth discussion. This is a miserable attempt at journalism - if you could even call it that.
4
They're are speculating on something that has no value. The only value it has is the hope that someone else will pay even more for it. That's nothing but a pyramid scheme.
2
More generally: do not invest in anything an influencer promotes. They're all pump and dump schemes, and guees what, you are the one being dumped on.
2
@MeatCatCheesyBlaster Yes, but than you own a share of a real company, whose value fluctuates due to real market forces instead of just hype.
2
@JunkBondTrader And where do those Canadian dollars come from? Only from new people buying into crypto. That's the essence of a Ponzi scheme. Try exchanging once the pool of new suckers dries out.
1
Also watch what happens when one of the insiders is hacked or gets stolen from. All the exchanges join forces and blacklist the stolen tokens, effectively rendering them worthless. Yeah, very decentralized...
1
@JunkBondTrader Mining isn't done by everyday people. It is done by companies with massive halls full of wasteful dedicated computer racks, that are moving around the world in a hunt for cheap electricity. For everyday people it isn't worth the electricity bill anymore.
1