Cryptocurrencies will bring about a worse financial meltdown than the one they were born from." -Prof. FeynmanThe plan for all cryptocurrencies isn't what they want to make you think it is. It's more sinister than the egalitarian image the crypto boys portray for it.After the 2008 financial meltdown, cryptocurrencies were born out of it, declared to be the means by which people could be freed from banks/governments, and promised to avoid any such future meltdowns from happening ever again.But the crypto boys watched closely the result of that meltdown, and formulated their plan: create a new form of currency, and for it a new financial system detached from traditional ones (those burdened by "governments and regulations") - they called it "DeFi" for "Decentralized Finance", but its dirty little secret is that it's really "Deregulated Finance".Their plan is to make this new money be adopted by the masses, so they start it off with a low price, then gradually increase it, by virtue of them just pulling numbers out of thin air for its value, until it catches the attention of the masses - then it gets more and more "valuable" from the collective faith of its given value ("network effect"), until traditional institutions and the typical "1%" billionaires start to notice and, greedy as they are, want in on the action too.So now those that got in at the ground floor have gained all this "value" out of thin air, and once they're ready, they'll pull out all pretty much at once - that it'll create a sell-off panic, and a new meltdown is born! And because of their "De[regulated]Fi" system, the bros have already shifted all the risks away from themselves onto others, so they'll make out like bandits, leaving everyone else to "hodl" the bag.
>>58430224...But the bros were really observant about that last meltdown - and noticed all the "bailouts" the big banks got - so as they were shifting the risks to others, they increased their investments into what would get the next bailouts - so in the end they'll make out like bandits twice: the first time from suckering everyone else into their pump-and-dump scam, and again once they benefit from the bailouts that'll get handed out.And there you have it folks, the real master plan of crypto.
there hasnt been a frog poster bot that had anything of value to say since 2017 - cut the crap. shut down the bot, mongo
>>58430224Your mention of "Deregulated Finance" reminds me of a 2018 presentation which described the cryptocurrency field as "speedrunning 500 years of bad economics."It certainly rings true, just like there's little room to dispute that the overwhelming majority of crypto coins/tokens are thinly disguised scams, which explains the pressing need of scammers to spam forums like /biz/ with mentions of their token, lest they lack new victims to fleece.At the same time, I don't believe there's an overarching masterplan at work here. Bitcoin's success is the product of the incentives it set up, and everything since can be directly traced as the natural product of self-rational amoral individuals seeking profit in this new sandbox in the same way toxic gases seek to fill any space in which they are let loose.As tempting as it is to dismiss all of it as pump&dump scams, or bailout baits (good luck with that btw), it's also undeniable that crypto (or at least Bitcoin and maybe a couple others) offers the ability to have censorship-resistant assets (you could also call them regulation-resistant assets), and that has value beyond scamming the mentally feeble.That value is expected to be most visible in scenarios of economic turmoil like high inflation, credit crisis, bank haircuts, etc., although it has certainly been more anticipated than observed to date.Even that can take a perverse turn when people start praying for hyperbitcoinization, a theorized massive economic crisis induced by bitcoin reaching critical mass, causing widespread damage across the financial system, and ushering the era of the dreaded bitcoin citadels as bastions of never seen before wealth inequality. But we'll be on top this time so it's fine.
The INSANE amount ppl have gone broke gambling crypto is astonishing. PPl here at biz all they care is making doge happen again so they can "make it" no wonder truflation seems to me catching on to things, at least they have lots of data to back up every decision they make. If biz as a whole pays more attention to already available data and info things would be better for everyone.
>>58430224You should do something about this, like lighting yourself on fire outside the next Trump kangaroo court proceeding in New York
>>58430224(((Feynman)))Didn’t read. Imagine reading Jewish fud and believing it. Midwits like you will never make it
>>58430317You know, I almost took for granted that everyone realized that being told to get in on the ground floor with CumTwizzler or FaggotCoin was a pump and dump. Back in the day people did this with penny stocks - for those with short attention spans watch the fiction movie Boiler Room.You can make money on crypto if you remove emotion and just treat it as speculation with calculated risk instead of YOLO'ing your McDonald's paycheck into some retarded shit on /biz/. But if you did that you'd realize crypto is an absolutely retarded way to go about this due to the sketchy unregulated infrastructure. Remember Mt. Gox? Coinbase freezes withdraws when the volume is too high, aka something is pumping? Why would you want to gamble on that?
>>58430481> Remember Mt. Gox?Ah, this is a whole mood right now for the creditors. They're starting to finally get repaid, and they can't decide whether to be collectively mad at MagicalTux for losing a good chunk of their coins, or happy that by being effectively forced to hodl for 10+ years, they've ended up with much larger dollar balances than they would have had otherwise.
>>58430224>will bringNo, it already happened, you just aren't informed enough. Back in 2020 after the free money corona hack and shit, defi gaming got into the spotlight under the premise of being able to make much without spending more than you can allow yourself to. You'd be surprised how many Asian families got whatever scrap money they got to buy that shit, and wanna know something fun? They got fucking rugged. At very least, defi gaming has really changed to tackle that problem, but it is still a hassle shit like having to hold that very shitcoin in the first place. At least there's many loopholes to this, such as flipping ingame assets to make a quick buck, or farming your shit under official channels, such as superve rse literally partnering with epic games store and many projects they're getting there too to hold one single shitcoin And that's just talking about defi gaming, we dont talk about lunclass
>>58430225real plan is just satoshi revealing he's gay and rugging btc. that much
this thread is full of retard schizos.... its amusing.
>>58431462how do you fit a horse in a car. how does a horse smokes.
>>58431462dont want to but cant help but, say that anon is right.Mostly.
>>58430317its crystal clear that crypto is basically "I can sell faster than you" and that's fucking sadge
>>58431572AI lil bro you can't be this shallow Mind I remind you that there´s literal donkeys out there that know how to smoke too
>>58431576that's why banks and the usa hates it. that's why the stupid law and the stupid taxes on it.
>>58430602sure, buying your rug right away.
>>58431580just another way of saying I dont want you to use it BUT I want all the benefits.
>>58431578wait a minI thought donkeys were Gorillas?this cant be right
>>58430224I prefer utilizing liquid restaking protocols powered by EigenLayer, such as YieldNest, to maximize my assets, rather than putting money in banks where I can't feel the ROI lol.
>>58430224ok jeet, now please stop sucking my penis. taking all that into account the result remains the same, we must take risks to make money and for that very reason I am still holding SSNC
>>58430224STFU as long as make my 100X on AAST I dont give a fuck desu
>>58430224Didn’t read. Anyone who thinks the crypto market (total mcap 2.5T) is the catalyst for a collapse when the banks are playing with hundreds of trillions of derivatives is just flat out retarded. This idea has been floating around since that retard lit himself on fire and it’s pants on head retarded.
