Crypto was just a really bad idea

New flippy
Feb 3, 2019 61 Comments

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TOP 61 Comments
  • Capital One EXwk33
    Agreed crypto (especially bitcoin) was an interesting bubble a few years ago, but was not built in a way to ever be useful in the real economy...
    Feb 3, 2019 17
    • Motorola / Eng RQKb80
      As a system it is basically only useful to criminals. The lack of a trusted 3rd party with a system in place to resolve disputes makes it in fact not as useful as a bank. It's great for laundering dirty money, but eventually they will run out of suckers and it won't even be useful for that.

      As for deflationary currency. Could you imagine taking out a mortgage for a house with a deflationary currency? Sounds really terrible.
      Feb 3, 2019
    • New flippy
      OP
      HD post 1 contains a link to a custody service losing a key. Fidelity cannot fix the fundamentally flawed design by papering over it.
      Feb 3, 2019
  • Microsoft Dr. Root
    This is exactly why you don't keep your crypto on an exchange. How hard is it to use a hardware wallet !?
    Have we not learnt anything from Mt Gox?
    Feb 3, 2019 17
    • Google YfqG77
      It's principled design.
      Feb 4, 2019
    • New flippy
      OP
      We have learned from the real world that is based on the wrong principles.

      You get trapped between keeping your key so secret that you risk losing access to you money, and having your key available online where you risk having it stolen by hackers.

      It's a poster child for why basing security on a password is an anti pattern.
      Feb 4, 2019
  • If you can’t make it rain in a strip club, it ain’t currency.
    Feb 3, 2019 15
    • When 56k dialup internet was one of the first iterations of the internet, did it stop there?

      Keep making a fool of yourself, it’s funny.

      Clearly you bought bitcoin at 20k and are resentful.

      You got wrecked. Admit it pleb, you’re just emotional over it and unable to take responsibility.
      Feb 3, 2019
    • New flippy
      OP
      Maybe somebody will come up with a currency that works but it isn't Bitcoin. It's insecure and unreliable and can't be fixed.

      Nobody used 56k dialup anymore either. The current solutions ARE NOT built on dialup.
      Feb 3, 2019
  • Capital One EXwk33
    Lol that's barely more than American Express, which is just one credit card company 🤣
    Feb 3, 2019 2
    • Intuit b7x1s
      Open source software is worth more than your entire company, which is $38B
      Feb 3, 2019
    • Capital One EXwk33
      Lots of things are valued more than Capital One. Were a relatively small company
      Feb 3, 2019
  • Google Mmkaay
    HODL 😂

    I am sooo happy that coinbase did not allow me to take more than $750 from my bank account lol, now worth $50
    Feb 3, 2019 0
  • This post is what we like to call FUD in crypto/finance.
    Feb 3, 2019 0
  • No market goes up forever, you have to make your entry during the opportune moments of the market cycle. Investing is not for the faint of heart, but it’s worth it.
    Feb 3, 2019 0
  • VMware BobbleHat
    Crypto freaks have invested their future in it so I doubt anyone here is going to convince them to change their minds. Maybe after they watch McAffee eat his own dick they will come out of it.
    Feb 3, 2019 0
  • Intuit b7x1s
    The market disagrees with you. Total market cap of all crypto is >$100B.
    Feb 3, 2019 0
  • New nawx52
    Well who knows whether crypto is good idea or bad. It amazes me to see how people who know don't things for certain fight it out in the market buy or sell. Call or put. Value is inherently complex for a common person to understand and these market makers are making good money exploiting it. ICO took it to to next level. Well be considerate to yourself and feel better by saying 'I don't know it for certain' and say it's speculative. It we really need a digital currency it will happen even if we have shortcomings today. That is where the great software minds are employed. This discussion is a rut. Please come out of it.
    Feb 3, 2019 0

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