this post was submitted on 27 Jul 2025
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Crypto remains a pyramid scheme masquerading as a resistance against tyranny
Ironically you know what ACTUALLY protects from powergrabs by payment processors? A fully centralised, government backed form of digital cash that is fully equivalent to paper money.
Ask a Brazilian about pix. Super low fees (often feeling non existant). And transactions can't be invalidated on the whims of a corporate board. For something to not be buyable by pix it has to be illegal, thus having to go through every layer of checks and balances a democracy has.
The problem with visa and their ilk is that finance has been privatised. Too much power in the hands of corporations that have deftly dodged regulation that would keep them neutral and honest. Thinking privatising things further and turning everyone into a fully unregulated petty digital landlord is gonna solve anything rather than make it worse is foolhardy.
Only if the government is democratic, many governments seems to be autocratizing these days, which wouldn't help when they start enacting puritan policies and refuse payment transfers. Not to mention, even some democracies banned porn (South Korea, for example).
You're not wrong
But keeping a government democratic and under check is a lot easier than trying to do the same to a series of corporations with anonymous investors calling the shots. Every corporation is in and of itself a dictatorship, dangerously close to an old noble clan, and we pretend we don't see it because it's been hypernormalised.
I'd much rather take my chances with a government, that can in fact respond to the will of the people from time to time, than with a corporation that only ever responds to money with exactly no exceptions ever.
Adding a few more points to fully kill crypto as a "freedom currency"
Also because the entire thing is backed financially by energy wasted, crypto has actually been slowing down the adoption of cheaper, safer renewable energy.
People spend x dollars on generating crypto, they expect to sell it for x+profit
Ergo if energy became cheaper, crypto would devalue and we can't have that.
Mining hardware is the bigger cost for bitcoin. Tokens are the largest cost for PoS.
"Difficulty adjustment" minimizes profits. You get a much higher return on the stock market than you do holding dollars.
Your post applies to Bitcoin specifically, not crypto in general.
So according to you, there's a crypto that 1. doesn't need any capital (computers), 2. doesn't need wastable energy (power that wouldn't otherwise be used) and 3. is actually impossible to track across the board?
From a user perspective yes to all 3.
From a infrastructure perspective,
You need capital to keep people honest. Nothing at risk means people can lie
Some power is still needed, but Ethereum has gone from the consumption of Chile to a single windfarm.
ZK proofs now allow anyone to create an anonymous token. Most blockchains are opt in for anonymity.
I have an ignorant question: is gaz a French-Canadian spelling? I always thought it was Russian.
As far as I know it's just french spelling, not limited to French-Canadian.
You've done it! You've fully killed Bitcoin! Now it will certainly become irrelevant! In 5 years, the top answer for "what would you do if you had a time machine and went back 5 years?" definitely won't still be "Buy more Bitcoin."
Of course cryptocurrencies will exist in the future. Same as simpler pyramid schemes, corruption, human trafficking, and banging your finger on a corner of a table. It's not an indication of any positive quality of those things.
It's Avon for Cis Dudes that make fun of Avon ladies
It's the Lottery for STEM Majors that make fun of grandpas that play the lottery.
I'd say 'it's religion for reddit atheists', but it's not. AI is religion for reddit atheists. "~~The rapture~~ AGI is right around the corner and when it comes around ~~God will save the righteous and punish the sinners~~ we will live in post-scarcity utopia. Just please ignore all the ~~priests committing horrid crimes on children~~ actual AI copmanies being owned by technocrats with fascist leanings who seem very horny for the idea of never having to pay a worker again. Until then we just need to ~~pray and proselytize very hard~~ keep investing on DA FUTER"
Have you heard of the lottery?
Whole-ass time travel to "buy more bitcoin", what a clown.
Yeah but I don't already know the winning lotto numbers
With time machine you can create the first lotto and be John Lotto himself
As far as I know monero didn't really have that issue, of being a pyarmid scheme, while also being privacy-respecting way more than Bitcoin.
Which is also why it's starting to get banned in Europe. As far as I know, most brokers don't even sell it.
But I want to buy and sell illegal goods and services.
Sorry, the only illegal shit I do is free illegal shit (piracy)
WELL actually, it's not illegal here in Brazil. It's only a crime if you can be proven to be making money off of it. Downloading/copying is free game. :^)
that's what cash is for
Do I look like I'm cool enough for that‽
When I heard elon is the primary holder of bit, I knew it was to be trusted. He's a liar and insecure. Plus his penis looks like a sick dogs vomit.