The problem is you don’t see how the world already works so you think crypto is the problem. It’s not any different to how other companies work and you have no examples of how it is. You also seem to think having currencies controlled by the US federal reserve is somehow better than a decentralised version. Well ok Uncle Sam. Enjoy your Apple pie. You must be a serious communist to love Wall Street like you do.
Why is there a currency even attached to vechain other than to commodify it?
Why are there shares attached to a company? So the investment from shares goes into the company to develop it. It’s the exact same principle but instead of offering shares they offer crypto.
XRP is cheaper and quicker than swift. Yes Ripple is the company. So what?
Amp and Flexa only exist if you’re trying to buy things with multiple currencies all at once. You understand what my problem is right?
You realise the fees are much cheaper than visa and MasterCard right? That it’s cheaper for the merchants and better for the consumer. You get this right?
Alright fine, you win. I obviously can’t win with some one who thinks all modes of trade are ponzi schemes.
Another disingenuous argument by you. I’m not the one who brought up Ponzi schemes. that’s your lazy argument. My point is if you wanted to you could call most things Ponzi schemes. Its not my fault you picked a lazy argument.
What services are offered?
VeChain is a blockchain platform designed to enhance supply chain management and business processes. Its goal is to streamline these processes and information flow for complex supply chains through the use of distributed ledger technology (DLT).
XRP is used for bank to bank transfers saving time and money as no currency exchanges are needed.
Amp/Flexa is a used to as a way to spend other cryptos alongside fiat and digital currencies. It uses its own payment rail to make retail spending quicker and easier.
There are other projects aswell covering different things and it’s still very early days. Ethereum has a lot of projects as part of that network and with them moving onto Proof of Stake rather than Proof of Work there should be big improvements on the way.
Other companies are advancing in Web3. Others are focusing on decentralised storage.
But yeah one big Ponzi scheme with no value /s
Ponzi used funds from new investors to pay fake “returns” to earlier investors.
Yeah the same as every trade of everything ever. New investors pay the ones selling. I’m fully aware of the terms origins.
There’s no commodity to be gained like a stock
Commodity definition “a raw material or primary agricultural product that can be bought and sold, such as copper or coffee”
So your Microsoft stock buys commodities does it?
That’s it, there is no service
This just shows you don’t understand crypto because many offer services. From logistics to inventory to banking to retail to so much more. You just don’t know enough to make a judgement so you just repeat the nonsense you’ve heard.
Your only arguments that they are a Ponzi scheme are they are worth more over time which covers virtually everything that exists and that it isn’t real which covers all fiat currency. Having something against decentralised finance when centralised finance is such a con seems strange aswell.
If you knew anything about crypto you’d realise that some crypto’s work the exact same same way. The crypto is what is used by the company and the value adds to the pool for transactions. You don’t know anything though. Besides that, a crypto is often more like a fiat currency than anything. Fiat isn’t tied to any commodity the same as crypto. There is no difference.
This whole thing about regulated banking is hilarious aswell. Maybe read a book and find out about all the financial crashes in history and how the regulators didn’t stop them. Also, crypto doesn’t mean the end of fiat. They can work alongside each other. Finally though this bullshit that communists can’t invest in crypto is fucking dumb. I don’t live in a communist country, I have no state looking out for me. Choosing ways to improve my financial situation is smart. Saying a communist wouldn’t do this could be applied to pretty much everything anyone does within a capitalist society. Should we all fucking starve to death and be “authentic” communists just to have some moral high ground? Unbelievable logic you have there.
I understand not all of them are mining coins, but that wasn’t my point really
The fact that you think that’s the only difference between cryptos shows your complete ignorance of the subject.
convince idiots is valuable for more capital than you purchased it for
Name one thing that people don’t try to sell for more than they bought it for.
A lot of money down the drain…
The US, “we’ve started the biggest war in Europe for decades, what should we do? I know let’s start a war with China.”
It’s a shame that all happened. I always liked that Saddam Hussein guy but reading that thread he’s gone off the deep end. I was all a bit unsure about what PatSoc meant but I’m gathering it means putting up with bigots. So I’m out.
replaced by national currencies that are backed up by both the value of trading with their respective countries and, in all likelihood, gold
None of the other currencies are backed by anything either. No currency is backed by gold. Saying backed by government doesn’t really mean anything.
Being an early adopter doesn’t give you control over the market. Being rich does. It’s no different to anything you can buy. If that makes crypto a Ponzi scheme then everything in the world is. As for not being tied to anything real. The same could be said of the dollar.
The environmental cost is something that mainly applies to bitcoin, Ethereum is moving to Proof of Stake which will reduce energy consumption by a lot. Even other Proof of Work coins use less energy than Bitcoin, Algorand is doing well. Eventually they’ll all go down that road so I think it’s a bit of a strange bandwagon everyone jumped on criticising crypto when it’s still at very early stages.
Trickle down economics
Calling all crypto a Ponzi scheme is pretty lazy thinking. You should probably try to understand the difference between them before trying to make that claim.
I find it hilarious. Crypto hasn’t even really got started as far as I’m concerned.
There is a lot here to unpack.
My part of the UK there is a lot of properties worth considerably less than in 2008.
I prefer self check out but the amount of cashier’s they now have is beyond minimal. You should be able to have both options.
That state being the US. US fan boy.