I hate Cryptocurrency

[d5000]

You rise some valid points that I also hate - in the Bitcoin community and in the altcoin communities.

To me, everything that is available to the consumer comes from the work of the manual laborers. [...]

Although this lowest rung performs the majority of the true, intensive labor they are upended by people who use trading to generate income from having wealth.

This statement has much truth in it and applies fully to Bitcoin and altcoins. But Bitcoin and cryptocurrencies generate opportunities that are not related to "making money with trading". So I don't agree with this statement:

The cryptocurrency scene imitates this already 'unfair' system yet removes the purpose of funding enterprises who produce goods and services. What's left is a decrepit circus trying to pass itself off as legitimate.

The point is that cryptocurrency could - in the future - remove many inefficiencies in the financial system that today are "stealing" money from working people. Cryptocurrencies can automate many things that banks do. That means that in a world where cryptocurrencies are stronger, banks will probably lose much of its current power. So there would be less middlemen in the financial sector and there would actually less money being "stolen" from workers.

But until we reach that utopia many hurdles must be taken. One of the biggest is price volatility, that seems to be gradually improving but is still far away from making Bitcoin an usable "unit of account". Until this problem is not solved a Bitcoin wallet simply isn't the same than a bank account.

[pcoin]

It baffles me how much stuff like this gets posted. Makes zero sense, always posted by somebody with an active ad campaign.

To me it's a question of are they serious or are they shilling deliberately.

No doubt you created this thread just to insult people because everybody are trying to let you see reasons that could make you to like cryptocurrency but you yelled back at them, if you already have your best opinion why creating the thread?
I am deleting my post from here but grow up because cryptocurrency have come to stay for good.

[ArdiPrabowo]

Well, I like the blockchain technology... but I have some major problems with it.

Instead of being regulated and utilized so it's a useful technology it's just become a giant faux-economy.


Exchanges, news, prices, altcoins. It never seems to end. Every coin is just feeding into bitcoin for profit. It wouldn't be so bad if there were limited hours for trading but of course because of how the blockchain works it is a 24/7 economy.

Everyone is just trying to one-up the next person by manipulating numbers to their advantage. Sure, that's a lot like the stock market but at the end of the day cryptocurrencies never produce anything other than more coins. Companies produce products and services.

Most every coin uses underhanded trolling tactics like hype accounts, insider bribes, and worse. There's nothing redeemable about the vast majority of this space.

I know there will be mostly defenders of the stupidity but god-damn it is truly ridiculous.

youre titile thread hate crypto curency
but conntent thread youre like blockchaim, about youre hate fluctuative price and about pump and dump this mean manimulation price
because bitcoin or crypto curency commoditie so price can up and down, same with nother fiat furency dollar can up and down too

[talkbitcoin]

you are confusing 3 different things:
1) trading (most probably altcoin trading and losing your money because of pump and dumps)

2) blockchain technology (which is just a technology, bitcoin uses it, altcoins use it, banks and many other fields use it)

3) crypto currencies (as a currency, for example using bitcoin to purchase stuff online and stay anonymous to some extent).

I have seen enough similar topics to say there is a good change your hate comes from option number 1. and that is right, we all hate altcoins and their pump and dumps, Instamined (no pun intended) coins, the ICOs and all the crap they pull.

one thing is for sure though, insulting everyone who replies to you is not going to solve anything and won't bring your money back.

[Instamined]

you are confusing 3 different things:
1) trading (most probably altcoin trading and losing your money because of pump and dumps)

2) blockchain technology (which is just a technology, bitcoin uses it, altcoins use it, banks and many other fields use it)

3) crypto currencies (as a currency, for example using bitcoin to purchase stuff online and stay anonymous to some extent).

I have seen enough similar topics to say there is a good change your hate comes from option number 1. and that is right, we all hate altcoins and their pump and dumps, Instamined (no pun intended) coins, the ICOs and all the crap they pull.

one thing is for sure though, insulting everyone who replies to you is not going to solve anything and won't bring your money back.

1) It has nothing to do with any trade, this has been my long standing opinion on the state of cryptocurrency today.

2) I understand the distinction between the technology and tokens, I even draw that distinction out.

3) uh... yeah.... totally confused on that

Pcoin:
"and you agreed with me that there are more than 1 billion ideas flowing everyday but we still have less than 1 billion crypto made."

I never mentioned 1 billion ideas flowing everyday. I don't have a clue what you were talking about.





I don't really care if you think that insulting is bad or rude or whatever, some of the ad-campaigners posts are seriously stupid.


d5000

I agree with the potential for the blockchain to be used to solve a lot of issues. That's why I find the current state of affairs to be annoying and failing to live up to potential.

[deisik]

Truth be told, I feel similarly about the stock, currency, and commodities markets.

To me, everything that is available to the consumer comes from the work of the manual laborers. The people who truly work to make services and products available through menial tasks.

Although this lowest rung performs the majority of the true, intensive labor they are upended by people who use trading to generate income from having wealth.

That's the crux of the issue, there is no changing it, but it makes for some really unhealthy societal tensions which I believe manifest almost exclusively from this. Laborers are divorced from profit to such a degree that it is maddening

Welcome to laissez-faire capitalism, mate

Deep inside people are selfish brutes, and, paradoxically, that seems to the only way to make the world (society) sustainable in the long run. The systems which tried to fix that (basically, "from each according to his ability, to each according to his need") turned out as unsustainable as well as uncompetitive and eventually corrupted down to outright dictatorships and autocracies. In fact, the laborers you refer to are none the better than the ones which (allegedly) take profits from them. They were either lazy or just unlucky to be born in poverty with not sufficient mental capacities to work their way up. You will have to resign yourself to this state of affairs

[pcoin]

you are confusing 3 different things:
1) trading (most probably altcoin trading and losing your money because of pump and dumps)

2) blockchain technology (which is just a technology, bitcoin uses it, altcoins use it, banks and many other fields use it)

3) crypto currencies (as a currency, for example using bitcoin to purchase stuff online and stay anonymous to some extent).

I have seen enough similar topics to say there is a good change your hate comes from option number 1. and that is right, we all hate altcoins and their pump and dumps, Instamined (no pun intended) coins, the ICOs and all the crap they pull.

one thing is for sure though, insulting everyone who replies to you is not going to solve anything and won't bring your money back.

1) It has nothing to do with any trade, this has been my long standing opinion on the state of cryptocurrency today.

2) I understand the distinction between the technology and tokens, I even draw that distinction out.

3) uh... yeah.... totally confused on that

Pcoin:
"and you agreed with me that there are more than 1 billion ideas flowing everyday but we still have less than 1 billion crypto made."

I never mentioned 1 billion ideas flowing everyday. I don't have a clue what you were talking about.





I don't really care if you think that insulting is bad or rude or whatever, some of the ad-campaigners posts are seriously stupid.


d5000

I agree with the potential for the blockchain to be used to solve a lot of issues. That's why I find the current state of affairs to be annoying and failing to live up to potential.

Sure, that's a lot like the stock market but at the end of the day cryptocurrencies never produce anything other than more coins. Companies produce products and services.

This is why i made such a statement because cryptocoin development are been propelled by ideas and there are many ideas that are yet to be taped so we should expect more coins.
I do not know the reason for your anger but every cryptocoin traders have lost good funds at one point or the other (Including myself) you only need to equip yourself with necessary knowledge about the crypto markets because there are good money to be made also.

[gredisgold88]

Well, I like the blockchain technology... but I have some major problems with it.

Instead of being regulated and utilized so it's a useful technology it's just become a giant faux-economy.


Exchanges, news, prices, altcoins. It never seems to end. Every coin is just feeding into bitcoin for profit. It wouldn't be so bad if there were limited hours for trading but of course because of how the blockchain works it is a 24/7 economy.

Everyone is just trying to one-up the next person by manipulating numbers to their advantage. Sure, that's a lot like the stock market but at the end of the day cryptocurrencies never produce anything other than more coins. Companies produce products and services.

Most every coin uses underhanded trolling tactics like hype accounts, insider bribes, and worse. There's nothing redeemable about the vast majority of this space.

I know there will be mostly defenders of the stupidity but god-damn it is truly ridiculous.

rather OP hate those people who use cryptocurrency as personal gain, cryptocurrency created on the basis of this cryptography makes cryptocurrency valuable, like bitcoin and some altcoin decent enough, maybe the OP should be careful to play in cryptocurrency on the basis of stock trading. cryptocurrency created almost the same as the currency, cryptocurrency including currency, but the currency is not included cryptocurrency.

[Victorycoin]

Well, I like the blockchain technology... but I have some major problems with it.

Instead of being regulated and utilized so it's a useful technology it's just become a giant faux-economy.


Exchanges, news, prices, altcoins. It never seems to end. Every coin is just feeding into bitcoin for profit. It wouldn't be so bad if there were limited hours for trading but of course because of how the blockchain works it is a 24/7 economy

I don't really see what's wrong with that

Namely, how and why it would (should) be better if there were limited hours for trading? It looks more like you missed some price movement leaving you in the red while you were asleep (away) and now come here cursing cryptocurrencies turning the air blue. Regarding everyone trying to get advantage over the next person, this is how everything around us works. The whole evolution hinges on that (so-called "survival of the fittest"). Ultimately, though, it could be said that we are all mercilessly exploiting nature by decreasing entropy inside us by increasing it outside. I guess, you will have to reconcile yourself to that and live with it

He must be an alien, lets welcome him back to earth and perhaps dispatch him to the Amazon forest to gain first hand knowledge of how things work ere on earth. Btw, dont we have the Dollars, Euros and Pounds trying to out do one another on daily basis?

[Instamined]

Well, I like the blockchain technology... but I have some major problems with it.

Instead of being regulated and utilized so it's a useful technology it's just become a giant faux-economy.


Exchanges, news, prices, altcoins. It never seems to end. Every coin is just feeding into bitcoin for profit. It wouldn't be so bad if there were limited hours for trading but of course because of how the blockchain works it is a 24/7 economy

I don't really see what's wrong with that

Namely, how and why it would (should) be better if there were limited hours for trading? It looks more like you missed some price movement leaving you in the red while you were asleep (away) and now come here cursing cryptocurrencies turning the air blue. Regarding everyone trying to get advantage over the next person, this is how everything around us works. The whole evolution hinges on that (so-called "survival of the fittest"). Ultimately, though, it could be said that we are all mercilessly exploiting nature by decreasing entropy inside us by increasing it outside. I guess, you will have to reconcile yourself to that and live with it

He must be an alien, lets welcome him back to earth and perhaps dispatch him to the Amazon forest to gain first hand knowledge of how things work ere on earth. Btw, dont we have the Dollars, Euros and Pounds trying to out do one another on daily basis?

Don't misunderstand me, I never left.

[deisik]

I don't really see what's wrong with that

Namely, how and why it would (should) be better if there were limited hours for trading? It looks more like you missed some price movement leaving you in the red while you were asleep (away) and now come here cursing cryptocurrencies turning the air blue. Regarding everyone trying to get advantage over the next person, this is how everything around us works. The whole evolution hinges on that (so-called "survival of the fittest"). Ultimately, though, it could be said that we are all mercilessly exploiting nature by decreasing entropy inside us by increasing it outside. I guess, you will have to reconcile yourself to that and live with it

He must be an alien, lets welcome him back to earth and perhaps dispatch him to the Amazon forest to gain first hand knowledge of how things work ere on earth. Btw, dont we have the Dollars, Euros and Pounds trying to out do one another on daily basis?

Don't misunderstand me, I never left.

Good for you!

But you still didn't explain to us why trading 24/7 is bad while trading 8 hours or so a day is in fact good. As I said, it feels more like you lost a lot while you were not around (likely sleeping), and thus you are frustrated at cryptocurrencies in general. I simply can't come up with any other plausible explanation why you might hate 24/7 trading apart from that. Really, people typically talk about round the clock trading as one of the cryptoworld advantages over the Wall Street world with their trading schedules, open hours, business suits, and all that useless shit

It baffles me how much stuff like this gets posted. Makes zero sense, always posted by somebody with an active ad campaign

You can't lie down with dogs without rising with fleas

[Gotottack]

I don't really see what's wrong with that

Namely, how and why it would (should) be better if there were limited hours for trading? It looks more like you missed some price movement leaving you in the red while you were asleep (away) and now come here cursing cryptocurrencies turning the air blue. Regarding everyone trying to get advantage over the next person, this is how everything around us works. The whole evolution hinges on that (so-called "survival of the fittest"). Ultimately, though, it could be said that we are all mercilessly exploiting nature by decreasing entropy inside us by increasing it outside. I guess, you will have to reconcile yourself to that and live with it

He must be an alien, lets welcome him back to earth and perhaps dispatch him to the Amazon forest to gain first hand knowledge of how things work ere on earth. Btw, dont we have the Dollars, Euros and Pounds trying to out do one another on daily basis?

Don't misunderstand me, I never left.

Good for you!

But you still didn't explain to us why trading 24/7 is bad while trading 8 hours or so a day is in fact good. As I said, it feels more like you lost a lot while you were not around (likely sleeping), and thus you are frustrated at cryptocurrencies in general. I simply can't come up with any other plausible explanation why you might hate 24/7 trading apart from that. Really, people typically talk about round the clock trading as one of the cryptoworld advantages over the Wall Street world with their trading schedules, open hours, business suits, and all that useless shit

I agree, I think it is more unproductive to have an eight hour trading time. Since I believe that businesses don't really sleep. I don't see Microsoft stopping its businesses after trading hours nor do I see it stop on weekends. That's really a fact.

I do somehow understand the sentiments of OP. I see plenty of coins that are really useless. People just tend to create so much coins for whatever purpose. For example, I've seen that "ConCoins." Which I really think is stupid. They just create some new coins for whatever weird and crazy purpose.

However, I still believe that some coins are useful. Not every coin is the same. For example, Z-Cash has some form of variation on the blockchain technology where they can hide the transaction data but only the parties can see it while it being written in their blockchain. This could really have some sort of real life use.

[Hydrogen]

Instead of being regulated and utilized so it's a useful technology it's just become a giant faux-economy.

Exchanges, news, prices, altcoins. It never seems to end. Every coin is just feeding into bitcoin for profit. It wouldn't be so bad if there were limited hours for trading but of course because of how the blockchain works it is a 24/7 economy.

Regulated banks do the same thing.

Instead of alt coins, pre mined junk coins or faux coins, they create derivatives.

Deutsche Bank has more in junk derivatives than the eurozone has GDP.



Regulation doesn't eliminate fraud in the financial sector, it is only used to prevent those other than banks from committing it.

[LittleBitFunny]

Truth be told, I feel similarly about the stock, currency, and commodities markets.

To me, everything that is available to the consumer comes from the work of the manual laborers. The people who truly work to make services and products available through menial tasks.

Although this lowest rung performs the majority of the true, intensive labor they are upended by people who use trading to generate income from having wealth.

That's the crux of the issue, there is no changing it, but it makes for some really unhealthy societal tensions which I believe manifest almost exclusively from this. Laborers are divorced from profit to such a degree that it is maddening.

The cryptocurrency scene imitates this already 'unfair' system yet removes the purpose of funding enterprises who produce goods and services. What's left is a decrepit circus trying to pass itself off as legitimate.

I understand why the cryptocurrency markets and 'real' markets operate how they do and free-trade is unavoidable. However, that doesn't mean that I find anything redeeming about the crypto side which is the same thing repackaged a million times.

This is sort of true in that there are huge amounts of pump-and-dumps and manipulation in the small cryptocurrencies and the shitcoins.  But that's just a side effect of this trading market.  There are also original coins, like Monero or ETH, which do try to achieve something with blockchain technology and build a niche. 

The only problem is the prominence of this "anarcho-capitalism" which always results in giant rungs in a ladder because the people who are so desperate to be "free" have pretty illogical views on capitalism and how things like this are going to work out.

[Stedsm]

Mark my words - Bitcoin is nothing without altcoins as these alts tend to make Bitcoins too rise as well as circulate among users.
Just think - what will you do with your money if you have nothing available to be bought through it? Your statement seems legitimate and you are correct in your words, but to run such a network, this bullshit is actually needed because without these wealthy monsters, no one would come up to feed those weak hands who sell their Bitcoins for lower prices. Wealthy guys play it through minds, stupid guys play it through hearts.

[Idrisu]

Well, I like the blockchain technology... but I have some major problems with it.

Instead of being regulated and utilized so it's a useful technology it's just become a giant faux-economy.


Exchanges, news, prices, altcoins. It never seems to end. Every coin is just feeding into bitcoin for profit. It wouldn't be so bad if there were limited hours for trading but of course because of how the blockchain works it is a 24/7 economy.

Everyone is just trying to one-up the next person by manipulating numbers to their advantage. Sure, that's a lot like the stock market but at the end of the day cryptocurrencies never produce anything other than more coins. Companies produce products and services.

Most every coin uses underhanded trolling tactics like hype accounts, insider bribes, and worse. There's nothing redeemable about the vst majority of this space.

I know there will be mostly defenders of the stupidity but god-damn it is truly ridiculous.

Op you are looking for imperfection in human system I don't think is possible. Bitcoin advantage both in decentralization and low fee cannot be over emphasize. We all have seeing great breakthrough in this technology and to me bitcoin economic system is far more better than fiat and banking economic system. If bitcoin failed we wouldn't have see the others coins coming up.

[Instamined]

Hydrogen: Absolutely with you. The traditional financial sectors are definitely full of faults. Derivatives, banking bullshit, and fiat printing are all pretty messed up. The big thing most stocks have over Cryptocurrencies is that they're backed by a product or service. I know there are different coins with different features but to be frank I don't really buy the necessity for more than a handful.

Yes, crypto is more an attempt at currency/asset rather than the basis of a company. Still, I don't really see any legitimate reason for the majority of coins including the front runners.


It makes me a bit sick, ok, seeing all these damn dirty apes money grubbing over intangible assets created for no other reason to leverage a portion of the pre-existing market. There are too many 'legitimate' passable scams and most traders don't give a damn if a coin is a scam as long as it's moving in their favor.


Perhaps you're right that it's an advantage to have a 24/7 trading time. Either way, it's that way no matter what.

Patrick Byrne of Overstock piqued my interest when he was talking about the blockchain as a way to ensure that trading platforms don't trade with trader's deposits in house. For the most part, it's difficult to 'own' your stock when trading digitally. However, I haven't heard anything from him in quite awhile.

I think if cryptocurrencies got tethered to resources that 24/7 trading might start to present a problem. Losing leverage in a 24/7 fight over a couple billion marketcap right now isn't quite the same as having to fight a 24/7 price battle over the sum total of global resources.




P.S. if anybody wants to buy some max keiser coin i desperately need money for my daughter's tuition please pm me

[deisik]

Mark my words - Bitcoin is nothing without altcoins as these alts tend to make Bitcoins too rise as well as circulate among users.
Just think - what will you do with your money if you have nothing available to be bought through it? Your statement seems legitimate and you are correct in your words, but to run such a network, this bullshit is actually needed because without these wealthy monsters, no one would come up to feed those weak hands who sell their Bitcoins for lower prices. Wealthy guys play it through minds, stupid guys play it through hearts

Other folks are also requiring to mark their words

Though they claim quite the opposite, namely, that Bitcoin is nothing without the US dollar. I think you can't have both ends at once, it is either here or there. As to me (you can mark my words too), Bitcoin would fare a lot better with neither the American dollar nor a host of altcoins by its side. Without these, people will just start using Bitcoin as a currency, i.e. how it was conceived right from the start. Moreover, we will nevertheless quickly get there even with all the Bitcoin competitors still sticking around once instant payments kick off for real



Look at the price, the market feels these times are nearing soon. The summer is coming!

[BrewMaster]

Mark my words - Bitcoin is nothing without altcoins as these alts tend to make Bitcoins too rise as well as circulate among users.

nonsense.
it is because of bitcoin that they exist not the other way around.
people go to altcoins in order to make more bitcoin and if anything that should decrease bitcoin price because people get much more bitcoin they used to have and if they sell price tanks.
bitcoin rises on its own and has nothing to do with altcoins other way is correct however. altcoins get dumped as bitcoin rises and they sometimes get pumped if bitcoin takes a temporary dip

Just think - what will you do with your money if you have nothing available to be bought through it?

IF there weren't anything available, which there is.
and even if there weren't bitcoin would turn into something like gold. or are you going to say gold is valuable because i don't know iron exists!!

p.s. so far in past 7-8 years thousands of altcoins came and gone and there will be thousands more in the coming future and they will continue to serve one purpose only: to get pump and dumped
until something changes with people who create these coins.

[ApplePanPine]

In their failures, it is necessary to blame not for the crypto-currency, but for itself. A person must be financially literate in order to properly manage his money. Losses - this is one of the stages of gaining experience. It is necessary to survive and live on. To not give up