Crypto is the new Enron.

[Baitball Blogger]

If you care anything about stopping the next financial scheme that will collapse investments and put an end to your government safety nets, say it loud, say it often: Crypto is the new Enron,

[JCMach1]

1. It's nothing of the sort.

[Baitball Blogger]

3. It is all speculative. And that is not good enough to provide financial stability for millions

of Americans.

[JCMach1]

8. All investment is speculative

And I would wager quite a large amount that the real estate bubble, or the stock bubble. Even consumer credit bubble (car loans) will break the economy before crypto.


And I am just going to put it out there: the left in the US is making a big mistake by dismissing crypto as a technology out of hand instead of learning about it and legislating how to make it better for consumers.

[question everything]

2. I admit I don't understand the first thing about it. I do know, though, that it uses a lot of electricity

that some municipalities would not allow construction of a plant.

I think that this aspect should be discussed.

So far, though it appears to enrich the ones investing in it. And that the major cheerleaders is the future Whit House occupant , I rest my case.

[JCMach1]

9. And many of the tokens (ETH) now no longer use

Electricity consuming algorithms.

People also need to understand that a large amount of the BTC farms are setup to soak up excess energy and electricity that isn't being used by consumers, or is simply natural gas waste from drilling.

BTC though should also probably consider changing algos as.well.

[Eugene]

4. Funny you should mention that...

The people behind Birds Aren't Real announced a "revival" of Enron two weeks ago
with a crypto token "coming soon." People burned by Enron weren't amused.

[Kid Berwyn]

5. Same idea.

The crooks get money for nothing and the mopes get holding an empty bag they overpaid for.

And the crooks are the exact same motherfuckers.

[PedroXimenez]

6. self-deleted

Last edited Tue Dec 10, 2024, 02:18 PM - Edit history (1)

[ProfessorGAC]

7. Rude

It's a disgusting reference. I would avoid bringing it up.