• zabadoh@lemmy.ml
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      1 year ago

      Crypto as an investment, and NFT for digital art, sure it’s a scam.

      Crypto as an extralegal means of moving money is totally useful.

          • zabadoh@lemmy.ml
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            1 year ago

            It’s true that crypto is commonly used in online drug transactions, but there are other justifiable uses, such as moving money out of countries with repressive regimes like China and Russia.

            Also paying for certain genres of porn that major credit card banks like Visa and MasterCard have somewhat arbitrarily designated as unacceptable, such as certain types of BDSM e.g. consensual nonconsensual, anything that shows blood, kinky hypnosis and mind control, vampires, etc.

            Of course obvious child porn and bestiality should be banned period, so some regulation is needed. But I’m not sure that the government delegating responsibility for regulation to the credit card banks is the best way to do it. The rules and enforcement are completely arbitrary and cannot be appealed.

      • 7heo@lemmy.ml
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        1 year ago

        Yep, I was gonna say, if you use it for what it designed and not for the abuse a handful of wannabe wallstreet guys decided to parade about for years, it’s very useful…

      • AntiOutsideAktion [he/him]@hexbear.net
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        1 year ago

        No it isn’t. Every single person has a complete record of every transaction. It’s the opposite of secure. It’s only useful insofar as intelligence agencies want tall grass to hide in for their own illegal transactions. Same as .onion btw

    • My parents still believe in crypto and got sulky when I told them that only scammers peddle crypto as the big thing. My Stepmom wastes like her monthly earrings on failed crypto schemes and my dad has to bail her out and basically pay every medical procedure/bills/gifts/groceries lol and give her an allowance, which she further throws out of the window with silly investments.

      • Commiejones [comrade/them, he/him]@hexbear.net
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        1 year ago

        Dude! that sucks. Have you tried telling her that gold and realestate are the only sure bet? Start telling her lies about a guy you talked to on the internet who invested in actual physical gold and used the profits to buy his house outright.