What i find especially intriguing is the certainty some people on this forum have of crypto going to zero. The same certainty they had 2, 5 and 10 years ago. Yet here we are. At what stage do they start questioning the strength of their certainty.
I don't subscribe to Bitcoin, I think it was a good Proof of Concept that this "Satoshi Nakamoto" entity released with good ideas that have since been tested and replaced by better ones.
I very well think that Bitcoin itself is going to zero, lest it migrates off PoW technolgoy. I am certain that at some point in the future governments will regulate and maybe even ban that wasteful use of electricity. Particularly when way better double-spending/integrity protection algorithms exist to replace PoW.
Nevertheless, Blockchains and crypto-tokens are here to stay. Ethereum is here to stay and similar networks will keep progressing, as GP said, without regard to scammers, fraudsters, naysayers and skeptics around the world. Technology will keep improving and becoming better performing. This is exciting to me!
I agree that the blockchain is an outstanding achievement in software engineering.
It's a distributed, cryptographically secure, decentralised append-only log. It's a data structure that would have a lot of potential in real-world applications, e.g. auditing public institutions, defending against falsifiability, etc. it provides an impartial proof-of-time, which is huge.
Bitcoin might live or die, but blockchains and digital currencies based on it are here to stay.
Hasn't coinbase repeatedly asked the SEC which tokens were securities and have yet to get answer... I don't think SEC strong arming is any indication of shadiness.
No, the SEC has said "most crypto tokens are securities" and coinbase doesn't like that answer, so they asked "Specifically tell us why and how specific tokens are securities" and the SEC has not responded to that request because helping companies skirt securities regulations is not part of their job, in the same way the IRS does not recommend which banks are bad about sending them tax info and the same way someone working for social services cannot legally instruct you on how to hide your assets so that you can get covered by state end of life care.
But each of those is a separate thing. Gold the commodity is traded and regulated differently than a gold ETF. Just because they’re both related to the metal does not mean a single regulatory body has dominion over both.
Andre is pretty much hated now. He created a shit ton of useless tokens in 2020 and 2021, made multiple millions off them, disappeared, and now has come back to preach to word of regulation to prevent others doing what he got away it.
While Cronje may be a good developer, he is also close to SBF level of scam (and he's more clever).
He also knowingly associated with Omar Dhanani / 0xSifu / Michael Patryn, who is another scammer who served time in US prison
2) They're ridiculously complicated and convoluted. The fact they're suggested by the crypto community only further demonstrates my point about the crypto ecosystem being completely disconnected from reality.
3) They don't do anything to address the other issues I raised.
Imagine thinking securities fraud is the profession of the superior man: instead, he is merely a slave to his desires, namely greed, debasing himself in order to vainly feed the insatiable beast inside. Truly pitiable and truly servile.
i have as much of a problem with wealth inequality as you do, but wealthy people have as much of an advantage playing the crypto game as they do the regular game, because its just a market.
