Baseyg

would you say wookies are closer to bears or primates?

Is there any chance of more acoustic EPs in the style of Sap or Jar of flies?

this is the best reply to the question i've heard

The sell of crypto seems to be its use as a decentralised, alternative currency. As such, it should be a commodity used to buy things.

However, bare some rare exceptions, crypto has failed to be used as a currency. The fluctuation in its value from a day to day basis makes it unreliable to use to buy and sell goods.

Talk to anyone invested in crypto (note already using the word investing) and the sell for crypto is how the values of crypto coins will go up, how much money they made and how much money can be made when crypto finally does succeed in its goal if becoming a currency. As it stands to day, cryptocurrencies predominant use is for investing.

The Value of crypto is only tied to their demand, currently most of the demand from them comes from people predicting the value. This circular logic leads to accusations of a ponzi scheme. If people stop investing, the value goes down and as such the value was only coming from new investments.

Crypto is certainly not a deliberate ponzi scheme, but if you are of the opinion that crypto currency will never have an actual use, then all it is is a bunch of people trading coins all hyping up that one day, they will all be rich.

Whether or not it will actually have a practical use outside of investment is the real question.

but it's not a scam

Cryptocurrency in general is not a scam, but there are certainly far more scams piggybacking off it than anything else in a while.

While not setup by a single malicious actor, I do see cryptocurrency in general as a sort of naturally occurring hype driven ponzi scheme.