1y ago

apparently it was Opposite Day at coindesk

www.coindesk.com

Mass Adoption Would Ruin Crypto. Keep It a Niche

there is some strong copium in the article, combined with a total description of having a massive gambling addiction without, y’know, actually realising it’s an addiction

remarkable stuff

10 comments

Adoption means following the law (which is often at odds with crypto's values)
yeah
and this article quotes FUCKING ROKO
Considering the opening sentence (and literally everything that surrounds crypto), it's so obvious that it's a scene constituting of people who think they are way smarter than they actually are.
- excessive consumption of adderall in certain companies involved in crypto might be not a coincidence
People buy into the dream of decentralization (or, for many, the promise of a fast buck).
insert be honest/thank you meme here
jesus fuck so much copium compressed in two short paragraphs
If you look at how crypto is actually used to connect with the real economy, you’ll see it's essentially in niche areas. These include black or gray markets, stablecoin remittance corridors and hobbyist pursuits.
it's called ransomware, drug trade, sanctions evasion and money laundering
Mind you, these are huge markets.
citation needed
But today, as in other periods where it seems like crypto is right on the cusp of breaking through,
citation needed
this usage pales in comparison to the speculative use of crypto, where capital goes in, jumps around from coin to coin or protocol to protocol and causes the number to go up – essentially creating a circular economy.
this is not what circular economy means, crypto is about maximizing waste, not reducing it
- Privacy advocate, educator and monero superuser SethforPrivacy sees things differently., The “unfortunate reality is that most people don't yet realize the need for Bitcoin
  bitchass motherfucker, we understand what you're talking about, we just answer no
  also not a cult
  
  awful.systems is probably blissfully defederated from monero[.]town, these weirdos from time to time swarm any crypto mentioning thread
  
  Cryptobros are something else.
  I remember a day at university, had 2 hours to waste before the next lecture, so I thought I'd mingle with the others. Walk up to a table, 2 dudes doing homework for a lecture I am attending as well. We exchange pleasantries and go on about working through the assignment together.
  They start talking about Dogecoin and how it will be the next big thing. Ask me if I have a wallet, I say I'm not into crypto. They start evangelizing about crypto and how it's "for the common people" and how I really need to join their quest to be financially independent. Ascertain that I'm good and I want to focus on the assignment, but give the idea a thought. One of them drops the line "Dude, so cool that you're aboard. Trust me, we are gonna be the next viral thing!"
  I laugh, pack my shit together and leave. From there on out, I spent my free time in between lectures alone.
look at https://coindesk.com/livewire some time. that's the feed of every article. it's over 50% copium.

10 comments