It is sad, not once have i heard crypto referred to as a PONZI SCHEME.
Barely hearing about all the natural resources we are using to fund this particular ponzi.
And it takes hardly any monetary resources to start one of these schemes.
Shows how stupid most people are and how greedy/corrupt banks and governments are to allow this to keep going on.
I MEAN, GOD HELP US, when the Chinese government is the first one to outlaw something, jesus, RED FLAG ANYONE.
good luck on getting a fair price on your next video card.
sorry, in 2011 i spent a month mining bitcoin and had about 20.,
Stopped when it dropped to 4 dollars.
now is 40000 dollars, and i cant find the hard drive they are on.
So i hate crytpo anyway LOL.
sorry, in 2011 i spent a month mining bitcoin and had about 20.,
Stopped when it dropped to 4 dollars.
now is 40000 dollars, and i cant find the hard drive they are on.
So i hate crytpo anyway LOL.
It's not Instinct as this card has head and it is in blue color (instinct is black or black and yellow, Radeon Pro in blue).
It's the RDNA card that will replace the Radeon pro VII i think.
It is sad, not once have i heard crypto referred to as a PONZI SCHEME.
Barely hearing about all the natural resources we are using to fund this particular ponzi.
And it takes hardly any monetary resources to start one of these schemes.
Shows how stupid most people are and how greedy/corrupt banks and governments are to allow this to keep going on.
I MEAN, GOD HELP US, when the Chinese government is the first one to outlaw something, jesus, RED FLAG ANYONE.
good luck on getting a fair price on your next video card.
I believe you need to back away from the mainstream news sources and inform yourself more about crypto.
Can it be used for evil purposes? Sure, but so can any monetary form. Crypto (in my opinion) was never meant to be a investment or a way to make money. It's true purpose and power is to be able to move money without governments and big banks being involved. THAT is why China banned it and why the banks and the government in the US want to regulate it so badly.
And you are incorrect about resources. To REALLY make money off crypto you have to have a pretty big operation. Sure, in the very beginning it's far easier but as soon as more people jump in and there is more coin existing it gets much harder to do.
I do agree though that to waste actual resources to "create" something that does not exist is silly. And again, I firmly believe this was never the point of crypto. But you are right in that it can be used that way but so can most things of that nature.
They have upped production and try to get cards into gamer's hands?
No but they'll tell some sweet lies to distract from the fact that the last 20 pallets of video cards went directly to scalpers to mining farms. Never even reached stores for scalpers to steal, they cut down 1 step.
I believe you need to back away from the mainstream news sources and inform yourself more about crypto.
Can it be used for evil purposes? Sure, but so can any monetary form. Crypto (in my opinion) was never meant to be a investment or a way to make money. It's true purpose and power is to be able to move money without governments and big banks being involved. THAT is why China banned it and why the banks and the government in the US want to regulate it so badly.
It's what it is right now though. It's 100% a speculative investment. And that's a big problem moving forward. You can't have a currency fluctuating like that all the time. Currency will go up and down depending on inflation or recession but for the most part they are very stable. Crypto***currencies*** fluctuate like crazy.
DarkQuark:
And you are incorrect about resources. To REALLY make money off crypto you have to have a pretty big operation. Sure, in the very beginning it's far easier but as soon as more people jump in and there is more coin existing it gets much harder to do.
I do agree though that to waste actual resources to "create" something that does not exist is silly. And again, I firmly believe this was never the point of crypto. But you are right in that it can be used that way but so can most things of that nature.
That also is a very big problem. It encourages the same scheme than you see with ponzi *businesses*. You'll attract the same kind of people looking to make a quick buck by exploiting other people. That's why there's already like 4000 cryptocurrencies around. They all hope their own little cryptocurrency will be the next big thing and obviously the people around the creation are the first to mine.
As long as cryptocurrecies can't be stable and more democratic they will keep being a speculative investment and at time very similar to ponzi businesses where there's not much money to be made toward the end and lot of money to make toward the beginning. They need to be stable and people need to believe that they will still be around in 100 years where there wont be much money to be made anymore for speculators and pioneers.
It's what it is right now though. It's 100% a speculative investment. And that's a big problem moving forward. You can't have a currency fluctuating like that all the time. Currency will go up and down depending on inflation or recession but for the most part they are very stable. Crypto***currencies*** fluctuate like crazy.
That also is a very big problem. It encourages the same scheme than you see with ponzi *businesses*. You'll attract the same kind of people looking to make a quick buck by exploiting other people. That's why there's already like 4000 cryptocurrencies around. They all hope their own little cryptocurrency will be the next big thing and obviously the people around the creation are the first to mine.
As long as cryptocurrecies can't be stable and more democratic they will keep being a speculative investment and at time very similar to ponzi businesses where there's not much money to be made toward the end and lot of money to make toward the beginning. They need to be stable and people need to believe that they will still be around in 100 years where there wont be much money to be made anymore for speculators and pioneers.
Now those are good points. I guess the original intent is somewhat meaningless when the current use case has changed away from it. It's interesting though, they did not seek to build a stable currency and they didn't. They just meant to create a way to move value without interference by banks or the government but that seems to have been almost forgotten (in this context).
My hope would be it could be augmented to make it stable and to discourage the mining situation and still have a way to move money without bank or government interference. But that won't happen. Those same banks and governments will just make sure it gets regulated by them which will nullify the reason for crypto to exist.
No but they'll tell some sweet lies to distract from the fact that the last 20 pallets of video cards went directly to scalpers to mining farms. Never even reached stores for scalpers to steal, they cut down 1 step.