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A comment on The Case Against Crypto. Parent comment

Re:The Case Against Crypto by yunohn on Friday December 31, 2021 @12:53PM (#29750528)
> Is it worse than MLMs, mileage programs or gambling? No

Gambling is heavily regulated in most countries.

MLMs are barely legal, and subject to rule of law.

Mileage programs are actual debts and mentioned in financial reports, as we saw during COVID.

Cryptocurrencies on the other hand, are unregulated mini-Ponzi schemes - while stablecoin and exchanges have often been found to be insolvent.

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Re:The Case Against Crypto by alpineidyll3 on Friday December 31, 2021 @01:26PM (#29750915)
There are casinos in every major place I've lived. (La, Austin, Chicago) which are negative sum games (not zero like crypto)

Mileage: https://youtu.be/ggUduBmvQ_4

There are, absolutely, crypto Ponzi schemes. (And stablecoins are largely such things) However there are also valid uses of crypto/Defi. I've used them myself to send funds easily. They are enabling truly symmetrically fair exchanges etc.

If you don't like crypto, don't buy it, don't mine it. Following eth 2.0 the energy usage will be minimal and it won't be harming you. Preserving positive freedoms generally and avoiding negative freedoms (constraints on others) is a good thing imo.

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