[ - ] Sector2 1 point 2 monthsFeb 16, 2025 14:58:50 ago (+1/-0)
Libra (LIBRA) turned into a financial catastrophe after insiders cashed out over $107 million, wiping out nearly 94% of the token’s value within hours.
How shocking. (that people still fall for internet numbers)
believe it or not this is where the WEF wants to take us. total tokenization of society. did you also know that trump wants to get away from the penny/cent? this may be just the first step in to digitizing the dollar without calling it a cbcd
either way. people want to strike " gold" when the opportunity presents itself
[ - ] x0x7 1 point 2 monthsFeb 16, 2025 14:37:46 ago (+1/-0)
There is nothing wrong with crypto except what people do with it. People need to stop hyping specific investments. That would be equally shady if it was stock.
And people who interact with crypto need to remember the fundamentals of what makes crypto good. It's supposed to be a trustless model. If there is someone in the stack you need to trust then you broke the intended model. You might as well forget the block chain at that point and just trust tokens in a database like the normal banking system uses.
The point of blockchain is to remove the need to trust the administrators of the system. But if you have to trust the administrators of the system for some other reason (like fulfillment of some promise), then since they are in your set of trust letting them run a more efficient DB makes just as much sense. Crypto is supposed to be a model of having a trust set of zero.
Long story short, there is no point in mixing blockchain with trust based models. At that point you are just chasing a buzz word.
[ + ] Sector2
[ - ] Sector2 1 point 2 monthsFeb 16, 2025 14:58:50 ago (+1/-0)
How shocking. (that people still fall for internet numbers)
[ + ] dosvydanya_freedomz
[ - ] dosvydanya_freedomz [op] 1 point 2 monthsFeb 16, 2025 15:26:32 ago (+1/-0)
either way. people want to strike " gold" when the opportunity presents itself
[ + ] Sector2
[ - ] Sector2 1 point 2 monthsFeb 16, 2025 15:41:27 ago (+1/-0)
I had a big jar full of silver coins when they started faking them with cheap metals, but contemporary pennys will probably never have much value.
[ + ] jfroybees
[ - ] jfroybees 1 point 2 monthsFeb 16, 2025 16:30:03 ago (+1/-0)
[ + ] x0x7
[ - ] x0x7 1 point 2 monthsFeb 16, 2025 14:37:46 ago (+1/-0)
And people who interact with crypto need to remember the fundamentals of what makes crypto good. It's supposed to be a trustless model. If there is someone in the stack you need to trust then you broke the intended model. You might as well forget the block chain at that point and just trust tokens in a database like the normal banking system uses.
The point of blockchain is to remove the need to trust the administrators of the system. But if you have to trust the administrators of the system for some other reason (like fulfillment of some promise), then since they are in your set of trust letting them run a more efficient DB makes just as much sense. Crypto is supposed to be a model of having a trust set of zero.
Long story short, there is no point in mixing blockchain with trust based models. At that point you are just chasing a buzz word.