Re:Ethereum: A number of hard forks turn out to be scams
by icebraining on Thursday January 10, 2019 @04:54PM
(#18878664)
Look, we can mostly all understand what real government issued money is
Not really, the vast majority of people have no real idea of how it works, beyond the simple cash transfer. In fact, the term "government issued money" is evidence of that - almost all money is created by commercial banks, not government.
We know money in the same way that people in ancient times knew the Sun - its workings are just regular enough that we can predict its effects on our lives tomorrow, without having to actually understand nuclear fusion or radiation.
Re:Ethereum: A number of hard forks turn out to be scams
by walrus01 on Thursday January 10, 2019 @04:41PM
(#18878505)
> According to the article, many real people who likely consider themselves experts in this "field"
A lot of people who thought they were bitcoin "experts" lost all or most of their coins to MtGox.
Re:Ethereum: A number of hard forks turn out to be scams
by duxup on Thursday January 10, 2019 @09:43PM
(#18880597)
MtGox is such a great and terrible example how even with some level of service there to help.....it can be even more dangerous.
And for all anyone know, they could have stolen it all from their own customers.
Re:Ethereum: A number of hard forks turn out to be scams
by nyolfen on Thursday January 10, 2019 @07:16PM
(#18879877)
and a lot of so-called ‘police’ end up shot by criminals themselves
Re:Ethereum: A number of hard forks turn out to be scams
by glenneroo on Thursday January 10, 2019 @08:54PM
(#18880371)
Do you honestly believe that's an apt analogy?
According to the article, many real people who likely consider themselves experts in this "field" were at least initially fooled.
I don't think your comparison to real money is wrong at all. Look, we can mostly all understand what real government issued money is. If people into crypto were first forced to understand what it is - the entire system would disappear in an instant.
I've said it before, there are geniuses in the cryptocommodity game. But they aren't the ones trying to buy low and sell high and concerned about forks. They're the ones pumping out SEO-invested ICOs, running exchanges, selling newsletters and books (or whatever the current version of that is). War is profitable if you're the arms dealer, not the solider.