One of the biggest realizations I had in High School is there are two kinds of people who hate bullies: those who don't think bullies should exist, and those who want the bully's power for themselves.
So it it with crypto. These jerkoffs don't want to crush the corrupt monetary system, they want to supplant it with their own scam.
It's a movement driven in no small part by rage. By people who looked at [the financial crash of] 2008 - who looked at the system as it exists - but concluded that the problems with capitalism were that it didn't provide enough opportunities to be the boot.
All credit to Dan Olson's masterpeice video Line Goes Up - The Problem With NFTs. Now, if you'll excuse me, I've got to go watch the whole thing again.
Yep, anyone who wants to change the rules stands to benefit from that change. It wouldn’t make sense otherwise.
There's also the possibility they're just a good person.
mhm and how would Bitcoin fix those problems though? Can those Techbros actually answer that?
Value of number goes up, this fixes inflation somehow
Easier to launder. Maybe. 🤔
That's why my savings are all in undistressed jeans. Appreciates in resale with each use and machine-washable.
We all fuckin know they can't but it's sure fun to watch the idjits try
"Bitcoin" could just as easily be swapped with "prayer" in this sentence, with the same implications
Do you have time to talk about your bitcoins extended warranty, it now uses AI!
Isn't all money fiat?
Ever since we understood actual scarcity of mineral deposits across Earth, yeah
Given that he put no effort in finding some arguments, this is a case of "negative publicity is publicity too"?
Bitcoin was a typo, he meant beef tallow
The beef tallow thing is painfully stupid...
I have started to wonder if the fact that adding it back makes it so vegetarians and vegans can no longer eat french fries (that are made with it) had anything to do with that decision... Or was that just an "unexpected bonus" in their minds?
It prob is a "some culture warrior/bodybuilder misread a piece of research and it turned into a culture war conspiracy" thing. Like soy. (My silly nickname predates the culture war stuff by several decades, it comes from Shadowrun).
E: yes looked it up, comes via RFK of course and is anti seed oils thing. https://www.diningandcooking.com/1742624/america-stopped-cooking-with-tallow-for-a-reason/ and the anti seeds oil thing is an idea that has been spreading through the (far) right blogosphere for a decade or more (that is when I heard of it, so prob existed before that).
Our friends of the pod at lw also joined in https://www.lesswrong.com/posts/DHkkL2GxhxoceLzua/thoughts-on-seed-oil (but it concludes the seed oil theory is full of shit, points for LW there, well done (dont read the comments, there is roundup in the seed oils)).
I'm guessing that you're too young to remember. Lucky 10000! In the 1990s, McDonald's was under attack for a variety of anti-environmentalist practices, and by 2001 there was a class-action lawsuit against them for using beef tallow in fries from a coalition of vegetarians, vegans, and primarily Hindus who were deeply offended that they had been tricked into consuming what they consider to be a sacred animal. In a nutshell, it's a very racist and revanchist move, not just an anti-environmentalist move.
Unlike normal, I can't link to good peer-reviewed articles on the topic. McDonald's is one of the few groups who can successfully control their Internet presence, and they've washed away these controversies as best they can. I almost feel like linking to this summary of the case on Wikipedia is unhelpful, since it's got so many apologetic caveats. They do this all over Wikipedia; McLibel or Liebeck are also heavily edited in favor of McDonald's. You'll have to explicitly add "hindu" or "indian" to search queries; for example, instead of "mcdonalds beef tallow", try "mcdonalds beef tallow hindu indians".
Bitcoin is to men what MLMs are to women.
You can replace the word "Bitcoin" with almost anything else and it'll make more sense.
I wonder what he thinks Bitcoin will do. I assume they think it will just keep growing magically?
I'm sure he's hoping that's true long enough for him to cash out and dip on the bag holders, yes
I'll trade those cheap chocolate coins for your bitcoins, at a 1:1 ratio. Seems about the same value
Wow, coiners tried to parasitize YIMBY while I wasn't paying attention?
Wow I was with him at first lol
Wow, Bitcoin was the solution for that. That is a first. Might have found a first real usecase.
If this guy is a CFA, I’d rather light my money on fire than let him manage it. I feel like the outcome would be the same anyway.
A burning pile of money at least has some warmth, though.
I bet you're thinking of CPAs (not to be confused with CPAs or CPAs), who are the sort of folks that might manage money for the working class. CFAs are something different:
The top employers of CFA charter-holders globally include UBS, JPMorgan Chase, Royal Bank of Canada, Bank of America, and Morgan Stanley.
You shouldn't let any CFA directly manage your assets. Go to your local credit union and get free advice from their CPAs; they often have a standard path to wealth-building for their members, even those without much in the savings account.
My father in law is a CPA, and even he refers people to certified financial advisers for investment advice. As I understand it, CPAs help you with taxes, and CFAs with fiduciary duties help you invest the money. There’s obviously a little crossover, but I think the lanes are pretty clearly drawn.
I’ve been wrong before though, so I’m open to being corrected if I misunderstand the separation of duties.
He may not be directly managing his clients' money, but he is probably advising them on how to invest. Badly.
"Let them eat bitcoin"?
My Uncle is like this, he's currentley living in the same building as me, I sometimes wonder what shit he's posting thats getting traced back to our IP that I will eventually get blamed for.
If we lived in the US, I'd be legitimately worried.
Bitcoin isn't fucking superman.
