crypto
crypto
117 points · 3 comments
submitted 3 years ago



3 Comments

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damnstraight · 2 points · 3 years ago
I don't like to be the facebook quote dude, but still:

All currencies only have value because people believe they do. So everything is kinda a bubble. Of course, official currencies still have countries to back them up, but that can also crumble eventually.
The only currency -I see- that could hold value beyond what is written on it, is gold/silver coins. Even if everything fails, those materials have physical qualities and properties that are seeked for over other materials.

Cryptocurrencies are the best impersonation of that: it's just data, but people want that data to belong to them, so there's a whole stock market worth several countries, from just that data beeing exchanged.
And poopcoins can eventually skyrocket before crashing again, while having close to 0 physical value. It all depends on how much people believe they are worth, and even more how much they will be worth.

In conclusion? As long as one is able to buy/sell and keep the madoff coin, it can totally be worth something and not be a scam. ....or at least not more than other cryptos.
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Kinalo · 2 points · 3 years ago *
While crypto is not necessarily a scam in itself (even tho you're going a bit far with the "even if it has the support of all the world's superpower it could crumble so it's the same as crypto that crumble when a rich lunatic send a weird tweet"), there is a lot of a way for a coin to be a scam, the main ways are pre mined coin and fabricated transactions : owners have 90% of the coins in existence and sell them back and forth betwee them to make it look like it's worth a lot.
A little more complicated one is contracts that give them a way to prevent other people from selling their coins, and i'm sure there is plenty others that i'm not aware of
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pokematic · 1 points · 3 years ago
While it seems like the "project" is back on line, I don't see any way to trade it. Like, their website doesn't say "here's the wallet you need," so it seems like this might be a legit scam with no token behind it. Fair disclaimer, I'm not trying very hard to find information, but every other coin I've looked into says "here's how to set-up the wallet, it's easy."
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