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A comment on Bye-bye, Bitcoin: It's time to ban cryptocurrencies. Parent comment

Re:Bye-bye, Bitcoin: It's time to ban cryptocurrencies by itake on Monday July 26, 2021 @02:30PM (#27963270)
> I've said this so many times: But what does it doooooo??? Name one project that isn't "speculation" or "loans" built on cryptocurrency that has seen any uptick or utility. NFTs sure ain't it. DAOs sure ain't it. Supply chain tracking sure ain't it.

In developing nations where the residents do not have access to regulated and "safe" investment vehicles like stock exchanges, where can they invest their saves? Physical bullion that can get stolen or damaged? Cash (and then real estate)?

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Re:Bye-bye, Bitcoin: It's time to ban cryptocurrencies by Jasper_ on Monday July 26, 2021 @02:33PM (#27963328)
Cryptocurrency does not help with this. Also, I asked people to name a project that isn't speculation or loans.
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Re:Bye-bye, Bitcoin: It's time to ban cryptocurrencies by cbthrow91 on Monday July 26, 2021 @02:47PM (#27963535)
https://cointelegraph.com/news/synthetix-is-already-tokenizi...

"The Synthetix (SNX) project, one of the biggest ecosystems in decentralized finance (DeFi), recently launched the Hadar upgrade, which enabled tokenized real-world assets like Brent oil and the Nikkei stock index."

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Re:Bye-bye, Bitcoin: It's time to ban cryptocurrencies by gamblor956 on Monday July 26, 2021 @03:14PM (#27963963)
The article describes Synthetix as a means for speculating on real-world assets through the trading of tokens representing equity actually held on other exchanges. However, the tokens themselves merely underly the SNX crypto actually being exchanged.

IOW, it's just another vessel for speculating which purports to be backed by real financial assets in the same way Tether purports to be backed by cash.

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Re:Bye-bye, Bitcoin: It's time to ban cryptocurrencies by lmohseni on Monday July 26, 2021 @02:32PM (#27963301)
Those are all much better options than a Ponzi scheme/ financial bubble.
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Re:Bye-bye, Bitcoin: It's time to ban cryptocurrencies by itake on Monday July 26, 2021 @06:52PM (#27966469)
This bubble has been going on for 11 years. When does it cease to be a bubble?
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Re:Bye-bye, Bitcoin: It's time to ban cryptocurrencies by nullsmack on Tuesday July 27, 2021 @12:02PM (#27973994)
Bernie Madoff's ponzi scheme started at least as early as 1991 and he was arrested 17 years later in 2008. So I guess these scams can go on quite a while.
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Re:Bye-bye, Bitcoin: It's time to ban cryptocurrencies by dandanua on Monday July 26, 2021 @02:35PM (#27963362)
So, you're proposing that poor nations should invest in this financial pyramid. Great idea!
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Re:Bye-bye, Bitcoin: It's time to ban cryptocurrencies by itake on Monday July 26, 2021 @06:49PM (#27966440)
If people find value in baseball cards, I don't see what is wrong with allowing poor nations to grow their wealth with crypto.
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