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 …
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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
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What we especially need to stress to regulators is that there's no relationship between the technical claims of cryptocurrency and our now over 13 years of experience. It's not decentralized, it's not a currency, it's not a store of value, and it's not a promising technology
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Pinboard Retweeted Trammell Hudson ✪
Cryptocurrency solves no problems that it didn't first create, and most of those it doesn't solve. Smart contracts are neither of those things—at worst they're an API for fraud, or as
@qrs put it, self-funding bug bounties at besthttps://twitter.com/qrs/status/1395784294451265536 …Pinboard added,
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"Solves no problem"? I can send, receive, borrow and lend money without having to get permission from a middleman or give up custodianship. It's solving a HUGE problem. If that's not a game changer I don't know what is.
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Explain to me how you would send me money I could buy a pizza with without a middleman
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