Your view about the crypto and crypto browsers.

AryanDevasagayaum

Hello Vivaldi world.

So as we all know the big boss Mr Jon is someone is who against crypto and I 100% agree with him. He said that Vivaldi is a platform that does not promote these kind of stuff. One of the main reasons why I joined and ditched brave in 2020. Moved to the Big 3 after but again found it lacking and boring. (was looking for an alternative to the big 3).

To me, crypto is a scam followed by the obvious ponzi scheme. Not a legal tender and we have no protection from fraud and attacks. As evident by the Luna fraud and the FTX collapse. I did not want to join a browser or community that was promoting this stuff (aka Brave and BAT) despite the privacy trade off.

Once I saw the crypto blog, I hoped in the Vivaldi train.

However, does everyone here agree with this view on crypto? Or it is something that you are completely neutral about?

My view. Crypto = bad.

DoctorG

@AryanDevasagayaum Computer power should be used for scientific development/research and not for speculations with a pseudo-money and fraud.
Pushing more and more people into a broken system does help only a few % to get rich.

AryanDevasagayaum

@DoctorG 100% agree with you. But sadly this is what happens when you set a human loose without regulations.

Pesala

@AryanDevasagayaum said in Your view about the crypto and crypto browsers.:

My view. Crypto = bad.

My view. Greed = bad, deception = bad.

Cryptocurrency is not all the same, and is not inherently bad. Everyone should do their own due diligence when investing, or using crypto for currency exchange.

I hope for a more robust and energy efficient cryptocurrency that can protect users from volatility and inflation.

The current banking system has a lot to lose from a switch to crypto, so they will spread disinformation about cryptocurrency.

AryanDevasagayaum

@Pesala Interesting point. However, it is about the concept of reality vs digital world.

Does something that does not exist physically have such value? Aka 16k USD for a coin you cannot buy bread with?

The system of being deregulated follows the concept of freedom, true.

But too much freedom will lead to chaos. Humans by nature are destructive and laws are what prevents us from becoming a monster, to a certain degree.

The concept of crypto from the start is doomed to fail at some point. Economists also predict this.

DoctorG

@AryanDevasagayaum Thieves were never regulated over decades. Why should a so called modern commerce system start to do so?

AryanDevasagayaum

@DoctorG But said thieves were punished through law.

edit: Crypto has no protection here. SBF is it was a Bank CEO would be in more trouble now.

DoctorG

@AryanDevasagayaum Depend on crime and from which social class these come.
Banksters get rarely punished in the EU, they get extra payment.

AryanDevasagayaum

@DoctorG Fair enough. But we have the argument of creditors always receiving their money, in my country it is the case, idk in others like the EU

josephj11

@AryanDevasagayaum Take a better look at what all fiat currencies are and how inflation is used to steal from the poor to pay for wars. There is nothing real about anybody's dollars. People just believe in them and watch their purchasing power decrease 15 - 20% or more every year. A lot of cryptocurrencies are scams, but some are not. Fiat currencies are all far worse scams. If you want to really understand this, read The Bitcoin Standard by Saifedean Ammous. Despite its title, more than half of the book is about how money and economics actually work. Its easy to read. Be informed!

Catweazle

@josephj11 , it turns out that many cryptominers are selling their servers in order to pay the bills. A currency that is completely virtual, untraceable with a value devoid of any countervalue or supported by financial/labor entities, is by definition a bubble and a scam that is bound to burst sooner or later.
There is no difference between cryptocurrencies and tulip bulbs in 17th century Holland. How it ended can be seen in any publication on economic bubbles, where the value is raised of something that does not have it.
Try to buy bread with crypto

DoctorG

Why do people think crypto currencies will help the poor getting more money or repair a broken commerce system or do not waste ressources?
That is really irritating.

LonM

@josephj11 said in Your view about the crypto and crypto browsers.:

Take a better look at what all fiat currencies are and how inflation is used to steal from the poor to pay for wars. There is nothing real about anybody's dollars. People just believe in them and watch their purchasing power decrease 15 - 20% or more every year.

There is actually a very good reason for this. Economies work best when people spend money and invest money in meaningful goods and services rather than hoarding it. A slightly inflationary currency is a way to encourage a healthy amount of spending, while still allowing people some space for savings.

Cryptocurrencies that are designed to be deflationary have a problem - no one will want to spend them as they are designed to always go up in value. This makes them functionally unusable in a modern economic environment as anything other than highly volatile storage.

Another benefit of fiat money is that during times of crisis, such as pandemics where you want to actively encourage people to not work, you can print money in order to sustain people through stipends. This is not easily possible under monetary systems which have a fixed value.

josephj11

@Catweazle This is pretty much like politics and religion. Let's agree to disagree and keep discussions here about Vivaldi. I can answer you point by point, but it probably won't change your mind and it's way OT for here anyway.

josephj11

@LonM That's the standard Keynesian explanation, but once you read a little Austrian economics, it won't make sense any more. The Bitcoin Standard by Saifedean Ammous covers this and many other things in very clear detail and is really worth the read.

Love to discuss this further with both of you - if interested - but not on this forum where it's way OT.