crypto market is crashing

@MethDozer yeah. I actually believed in crypto. it was one of the few things libertarians were right about. where they were wrong however is the delusion that a market can be free when a company like black rock can just throw 100 billion dollars at your little play money project and blow its back out

@NoahB The big problem is the original blockchain idea was more meant as proof of concept than an actual means to an ends. It was hoped that it would be worked on by enthusiests to have scalability. That issue never got worked on ans it instead became another collectable coin or artwork to hide wealth from taxation and duties but even fails at that since it gets taxed when converted anyway.

@NoahB I wouldn't say I ever fully beleived in crypto but thought it had the right philosophical direction at one time.

@MethDozer yeah it went off the rails when people started viewing it as an appreciating asset instead of what it can actually be useful for. (A way to buy drugs through the mail) lol

@MethDozer Actually there were a bunch of people who kept buying ever-more-expensive computers/upgrading their computer farms in order to be competitive in the search/hunt for the next bitcoin, etc., reveal.

And they were people who had the means to do that, so not really "the little people".

But if anyone thought that an informal, made up fiat currency is somehow better than an established one, backed by a major government of a rich nation, a currency internationally recognized and used daily, well...they are welcome to their opinions.

"Get rich quick" schemes usually [u]are[/u] schemes.