I mean, there is some truth to what he said, but correct me if I'm wrong, but isn't there anything new with what he said to anyone with decent knowledge in this space? Most cryptocurrencies being centralized, pump and dumps, manipulation, and other shady stuff and all that. In a mostly anonymous and pseudonymous industry, it's almost guaranteed to have a lot of bad actors.
Not to mention that these bad actors is just an inkling compared to stock market where they even have companies dedicated to shorting companies and making the shorted companies on their heels because that's how they make the money. 
Topic: What's your opinion on Jack Palmer's thoughts on cryptocurrency? - page 2. (Read 350 times)
I mean he did create the Dogecoin as a meme and they did not have any ulterior motive to creating it unlike any other cryptocurrency that gets funded in today's market. A meme to bitcoin mostly at that time.
But it ended up being more than just a meme. It became a sensation and people wanted it to go up in price.
I believe if any of you would have even been in Jack's shoes you might get the idea of what I am trying to say. Your creation is the point of a huge discussion and criticism today. Almost like a father has to watch the criticism of their child but they cannot do anything about it. Possibly this has hurt them for years now and what we are seeing today is the outburst of that rage.
There is another view to this : Is it possible that Elon has paid Jack to sat this, so that people dump their bags and Musk gets a discount to fill his bags again? It would be interesting to see how these celebs follow up their posts in order to prove or disprove my statement.
But it ended up being more than just a meme. It became a sensation and people wanted it to go up in price.
I believe if any of you would have even been in Jack's shoes you might get the idea of what I am trying to say. Your creation is the point of a huge discussion and criticism today. Almost like a father has to watch the criticism of their child but they cannot do anything about it. Possibly this has hurt them for years now and what we are seeing today is the outburst of that rage.
There is another view to this : Is it possible that Elon has paid Jack to sat this, so that people dump their bags and Musk gets a discount to fill his bags again? It would be interesting to see how these celebs follow up their posts in order to prove or disprove my statement.
"Lose your savings account password? Your fault." - whose else? you did not protect it well enought!
"Fall victim to a scam? Your fault." - whose else? You send money to guy who claimed to send back twice as much!
"Billionaires manipulating markets? They’re geniuses." - Manipulating market is harder than trading with small wallet. Manipulating centralized shitcoins with 90% of supply in hands of 1 whale is easy but investing/trading them is rather p.2 "Fall victim to a scam" because of lack of research
"Cryptocurrency is like taking the worst parts of today's capitalist system (eg. corruption, fraud, inequality) and using software to technically limit the use of interventions (eg. audits, regulation, taxation) which serve as protections or safety nets for the average person."
We see the worst part of today's "capitalist" system outside of crypto. Not inside. Full of corruption, fraud. Current monetary system is the biggest scam in human history.
"Fall victim to a scam? Your fault." - whose else? You send money to guy who claimed to send back twice as much!
"Billionaires manipulating markets? They’re geniuses." - Manipulating market is harder than trading with small wallet. Manipulating centralized shitcoins with 90% of supply in hands of 1 whale is easy but investing/trading them is rather p.2 "Fall victim to a scam" because of lack of research
"Cryptocurrency is like taking the worst parts of today's capitalist system (eg. corruption, fraud, inequality) and using software to technically limit the use of interventions (eg. audits, regulation, taxation) which serve as protections or safety nets for the average person."
We see the worst part of today's "capitalist" system outside of crypto. Not inside. Full of corruption, fraud. Current monetary system is the biggest scam in human history.
To be fair the pump and dump-y nature of the shitcoins that keep popping up has nothing to do with the pseudo-anonymity of the technology. It is all about the fact that creating something new (but useless) out of thin air costs nothing and it also doesn't take that much effort specially nowadays with tokens. So they keep watching a 10 minute walkthrough on how to create a new token and then sell that shittoken for millions to idiots who would buy it.
Sure, it's a combination of a lot of things including the things you've mentioned; but pseudonymity/anonymity sure is definitely a huge factor due to the fact that they can easily easily get away with their scams. Compared to making a scam in a traditional manner where the scammer is a lot more at risk of getting exposed.
In a mostly anonymous and pseudonymous industry, it's almost guaranteed to have a lot of bad actors.
To be fair the pump and dump-y nature of the shitcoins that keep popping up has nothing to do with the pseudo-anonymity of the technology. It is all about the fact that creating something new (but useless) out of thin air costs nothing and it also doesn't take that much effort specially nowadays with tokens. So they keep watching a 10 minute walkthrough on how to create a new token and then sell that shittoken for millions to idiots who would buy it. 
I mean, there is some truth to what he said, but correct me if I'm wrong, but isn't there anything new with what he said to anyone with decent knowledge in this space? Most cryptocurrencies being centralized, pump and dumps, manipulation, and other shady stuff and all that. In a mostly anonymous and pseudonymous industry, it's almost guaranteed to have a lot of bad actors.
He definitely has some point, but the thing is, this is not the first time that we have heard this argument. Maybe he is just spinning some words around, but in the end, it's about manipulation by whales, crypto influencers. We've seen and heard this before and his argument sounds like a broken record already.
But I disagree that crypto is supposed to replace fiat, it won't happen. Governments around the world are now experimenting with CBCD. But whatever, to each its own.
There is no perfect system.
I mean, there is some truth to what he said, but correct me if I'm wrong, but isn't there anything new with what he said to anyone with decent knowledge in this space? Most cryptocurrencies being centralized, pump and dumps, manipulation, and other shady stuff and all that. In a mostly anonymous and pseudonymous industry, it's almost guaranteed to have a lot of bad actors.
You can read here: https://mobile.twitter.com/ummjackson (there are only those 10 tweets, nothing to scroll)
Although I preach how good crypto is to people I meet. His thoughts do make sense. What do you think?
Although I preach how good crypto is to people I meet. His thoughts do make sense. What do you think?
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