just checking in on the financial revolution that was meant to sidestep banks, tech giants, and the state

#crypto #cryptocurrency

@molly0xfff

Gov, financial sector and corpo's be like:

@molly0xfff Allow me to be the 28435928347936th voice in your replies saying, 🙄

@molly0xfff

Now it's a State-sponsored scam.

@molly0xfff a future where nothing can go wrong. Reminded of this recent gem: https://www.levernews.com/cryptos-new-bailout-fund-your-savings-account/
Crypto’s New Bailout Fund: Your Savings Account

The GENIUS Act would require banks to prioritize stablecoin owners over customers if there’s a financial collapse.

The Lever
@molly0xfff to be fair the last image isn't that bad
@molly0xfff
Tired: Company paper scrip where workers got paid in funnymoney they could only use in the company store.
Wired: Per megacorporation electronic funnymoney you can only use in their stores. Which apparently has been suggested.
@molly0xfff to be fair #Trump IS side stepping the Banks.

@molly0xfff

Cryptocurrencies are and will always be ponzi schemes.

#cryptocurrency #fraud

@molly0xfff Still trying to close my Coinbase account. They won't let me

@molly0xfff next up, AI is going to solve world hunger and give the power back to the people!

It's a revolution!

@fromjason @molly0xfff

They'll finally give us flying cars and fitted sheets that are easy to fold!

@molly0xfff if you’d make a “crypto punk is dead” shirt in the style of 80’s punk posters, I’d buy it. Just saying 💅

@molly0xfff

The constant failure of libertarian philosophy to acknowledge critical theory will never not be funny.

They will sell the revolution to you and that's so much easier when it was always about making money

@molly0xfff This is the first I've heard of the concept of a "stablecoin." It... uh... seems to Ignore all the potential benefits cryptocurrency was supposed to have in order to focus on the ease of using it to scam money out of idiots.

@molly0xfff I'm a crypto cynic, but the AMEX one kind of sticks out IMO, given that one of the primary complaints about crypto is how godawfully slow it is.

With this offer you get the benefit of financial transactions handled at speed by a competent processor AND accrue BTC on the back end effortlessly*. I suspect this grift might have some legs.

*probably not effortless, but at least you're not mining

@molly0xfff
They are just happy that the government greenlighted corporate script for the first time in 150 years