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Pinboard

@Pinboard

The light inside is broken, but I still work. The Cadillac of online bookmarking sites. Alleged nocoiner. http://pinboard.in  maciej@ceglowski.com +1 415 610 0231

Lonely street of broken dreams
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    1. Pinboard‏ @Pinboard 4h4 hours ago

      Because Bitcoin especially (through the Tether fraud) and cryptocurrency more generally is a pyramid scheme, of course Wall Street and venture capital need it to go mass market. It's the only road to getting out of their current investment at a profithttps://www.politico.com/news/2021/05/30/bitcoin-investment-wall-street-lobbying-491399 …

      17 replies 192 retweets 548 likes
      Show this thread
    2. Pinboard‏ @Pinboard 4h4 hours ago

      I think it's time for us in the tech world to speak out and make it clear the emperor has no clothes here. Cryptocurrency is sustained by a mix of money laundering, vaporware, fraud, ransomware, gambling, and delusion. It has no social benefit except helping end first dates fast

      25 replies 395 retweets 980 likes
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    3. Turbo Autist‏ @TurboAutistic 1h1 hour ago
      Replying to @Pinboard @Alice_comfy

      The market narrative during this recent bull run kept pushing more towards greedy and nihilistic rationales, with little respect to fundamentals. I never doubted people are in crypto mostly for the money, but this was disturbing to witness.

      1 reply 0 retweets 3 likes
    4. Turbo Autist‏ @TurboAutistic 1h1 hour ago
      Replying to @TurboAutistic @Pinboard @Alice_comfy

      But I do think it's necessary for governments to develop their own crypto and replace it with the strange shadow banking system we have that 99% of people don't understand. So the little benefit I see is free research and development for governments to eventually use.

      1 reply 0 retweets 2 likes
      Pinboard‏ @Pinboard 1h1 hour ago
      Replying to @TurboAutistic @Alice_comfy

      Why would government-backed digital currency need a distributed ledger with untrusted nodes, though? That's the part I don't understand.

      1:27 PM - 30 May 2021
      • 3 Likes
      • Pelafina H Lievre Alice
      1 reply 0 retweets 3 likes
        1. New conversation
        2. Turbo Autist‏ @TurboAutistic 53m53 minutes ago
          Replying to @Pinboard @Alice_comfy

          The infrastructure of the technology doesn't need to be decentralized. It won't and can't be. What is needed is the ability to transfer fiat/assets peer to peer without a banking/3rdP institution.

          1 reply 0 retweets 1 like
        3. Alice‏ @Alice_comfy 36m36 minutes ago
          Replying to @TurboAutistic @Pinboard

          I like the idea of a CBDC, payment processors can legitimately overstep.

          1 reply 0 retweets 1 like
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