Also, most cryptos have state of the art programming. They have to, because any little hole or vulnerability puts millions or billions of dollars at risk.
It’s an exchange where you can exchange a token of the same name (their token). The primary purpose is not for that token, it’s mainly known for being an exchange.
There’s no lowest bidder here, how’d you even come up with that?
People employed in crypto are usually very well paid, because they have to be good at their jobs.
The absolute majority of cryptocurrencies is fully open source.
Seriously man, educate yourself before spitting nonsense.
Edit: I’d appreciate if anyone downvoting me provided their reasons for doing so, preferably with sources to back them up. I’m happy to provide examples to back my arguments up if requested.
Have you heard of Indian call centers? Let’s ban phones, let’s ban email, let’s ban gift cards, let’s ban bank accounts.
The fact that the technology is also being used to scam people doesn’t mean that the whole thing is bad. There are numerous use cases beyond illegal activity, and you focusing on a tiny fraction of the whole thing just shows that you don’t actually want to understand, but that hate is your only way of expressing, that you don’t understand it.
Here, read up. They’ve got studies and sources for their claims.
It may seem like it, but it sure isn’t like it. You’ll obviously hear about the bad and nothing about 5he good, unfortunately that’s how media works nowadays.
Do you want to elaborate on those issues that are unacceptable and unfixable? I’m not saying there aren’t any, but you’re describing a trade-off, and crypto isn’t the only thing in the world with trade-offs.
Fiat is a great example - conveniet, nice, until it starts hyperinflating, until people use it to fund wars, until the government confiscates it because you insulted a politician on Twitter.
From scams to just cyber attacks with no safe guards would make everything impossible to handle. There is no bank covering you or insurance. People dying, losing keys etc drive deflation. BTC/Mining coins are destined to die. Maybe there is something there, but it certainly isn’t finance.
Inflation is necessary for multiple reasons, but you can read on that yourself. Such as; what would happen if everyone considered holding to money an investment? IMO these facts make Fiat sound so much better…
You’re free to hold your crypto on an exchange, you’re free to buy a hardware wallet and do your due diligence when confirming transactions, you’re free to create a multisig for your coins and tokens to introduce multiple factors for signing.
But it’s your choice.
people dying, losing keys
That’s on them, it’s like stuffing money into a mattress and not telling your family.
mining coins are destined to die
Mining’s not great for sure, but “destined to die” makes no sense.
Inflation is necessary so that people spend the thing
That’s kinda funny, because in the case of Ethereum, the deflation comes from people using and spending Eth on gas.
I’m also not saying that Ethereum is the perfect currency to replace fiat, the utility there comes from everything that’s built on top of it.
Widen your horizon, crypto isn’t just a medium for payments.
Hardware wallets are safe, multisigs are safe. You can be safe if you put in the effort. If you don’t want to do it, that’s your call, doesn’t mean the system sucks.
Yeah difficulty is adjusted depending on how many “devices” (simply put) are mining, the target is a specific blocktime.
What’s gonna kill bitcoin is the ever decreasing issuance, but that’s not the problem of crypto nor mining for that matter, just bitcoin.
Have you skimmed over the point that I think that Ethereum (one of the few sustainably deflating cryptos) isn’t just a currency but also a base for other things that may also serve as a currency?
Also, it’s not bad for the currency itself, just for the economy around it. And again, I’m not saying Ethereum should replace the dollar.
Yeah, you hear about the things that go wrong and not about the ones that don’t.
I’m not saying everything is perfect, obviously it isn’t, but the people on here are talking about how incredibly shit it is without any redeeming qualities, which just simply isn’t true. It’s harder to prove a negative (that things aren’t bad), especially since nobody’s gonna write a “no protocol got hacked today, $x billion is safe” article.
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