schrotthaufen
Since this blew up (for my levels of blowing up):
1) I am not Pat
2) What’s happening in Gaza is a genocide
3) Trans women are women
4) Read https://vcinfodocs.com
Tzimisce Flesh@schrotthaufen To be fair, the Ponzi scheme is pretty much a constant.
The whole idea is investing in a system that most of the time simply cannot produce value. So any value extracted by investors has to be the funds injected by other investors.
It's not really 1-to-1 with a proper Ponzi scheme, but close enough.
The whole idea is investing in a system that most of the time simply cannot produce value. So any value extracted by investors has to be the funds injected by other investors.
It's not really 1-to-1 with a proper Ponzi scheme, but close enough.
Marshall EubanksAnd some try to be all of these at once.
samiamsamlol FACT it is all a scam and criminal money laundering and grift
Ivey Janette McClelland@samiamsam @schrotthaufen As much of a scam, launder and grift as the numbers game played in the hood before lotteries became legal.
LambdachroCryptocurrencies are the metastases of a cancer called tech capitalism.
Artemis@schrotthaufen
Don't forget the money laundering.
Don't forget the money laundering.
⚯ Michel de Cryptadamus ⚯crypto money laundering is core to the broligarch business model
https://cryptadamus.substack.com/p/of-tech-bros-and-trumpers
Ross of Ottawa@schrotthaufen begs for a Ponzi Certification Authority.
@ottaross It runs on a Proof of Scam blockchain, of course. (There’s absolutely intentional overlap with the more commonly known pos acronym. I swear!)
Denzil Ferreira@schrotthaufen I was once a blockchain enthusiast. Missing are NFT of monkey pictures and staking (I.e. give money to others and thinking you will get more back over time)…
@denzilferreira I’m glad you got out of that cult!
@schrotthaufen me too 😅 as a computer scientist, I entertained the idea of blockchain as a scalable (it’s not) database. There is no use-case that makes sense for blockchain, especially if it involves monetary attribution. Decentralised databases, such as Fediverse, don’t require every single instance of the host to have a copy of the database. So as time goes on, on crypto, you have increasingly more storage requirements, and computational verification of each transaction (increasingly more energy).
Light@schrotthaufen @mike805 Crypto is probably the only thing keeping governments from cutting off donation flows to protest orgs like Wikileaks. Because, you know, everyone now has the option of a censorship-resistant payment method.
Till O'Rly 
@light @schrotthaufen @mike805 except the address is public, so it wouldn't really be a problem to go "jada jada cybercrime" and seize that wallet.
Remi 
Not everything in crypto is a scam, only 99.8 percent, the last bit is people buying hrt because they're stuck in fascist regimes where they can't obtain it legally
Knut 🏳️🌈 🇳🇴🧸@schrotthaufen i remember reading a paper years ago, while I was still in school talking about blockchain being one of the greatest checksum technologies available that would usher in a new era of fraud tolerant contracts and banking ledgers, and finally render mainframes obsolete. I hope that guy isn't living in a dumpster in disappointment. I feel bad for him because it was a good paper.
Pooblemoo@schrotthaufen Hilarious and so snarky. Love it.
ArchaeoIain@schrotthaufen that could be the best argument ever about how wrong it is to support diversity. On the other hand, there might just be diversity in everything. But I support with every fabric of my being the encouragement of equal treatment of the Diversity in our attitudes to other people, so long as it also leads to more Equality.
@schrotthaufen Say what?
It's a Ponzi scheme by any other name.
Multi level marketing at its finest.
Codhisattva@schrotthaufen @lisamelton lets not omit the rug pull…
Maxi 12x 💉
Michael Seemann@frumble witzig ist ja, dass das inzwischen ein settled case ist und all die „befreiungserzählungen“ quasi verstummt sind, aber trotzdem alle weitermachen.
sabik@schrotthaufen
@saraislet
There's even a variety of non-fraudulent schemes in the crapto space, like money laundering, drug dealing, tax evasion and extortion
@saraislet
There's even a variety of non-fraudulent schemes in the crapto space, like money laundering, drug dealing, tax evasion and extortion
Eric Frey@schrotthaufen They are diverse and inclusive. They want your equity. I think you can call them DEI.
apostrophesiah@schrotthaufen I hate how people have turned crypto into an investment system, when it was intended to simply be p2p money. I think only 30% of people holding crypto actually understand Satoshi Nakamoto's vision
saucerlost@schrotthaufen
This is why I've invested in SchemeCoin. It's... uh.. well, the thing is, you see..
Oh hell, they got me again
@saucerlost Oh… I thought that was a coin implemented with Lisp :(((
G@schrotthaufen needs to add presidential campaign fraud to the diversity list