Are cryptocurrencies a scam?

Are cryptocurrencies a scam?
>inb4 ask on biz
Echochamber. I want a neutral opinion from tech savvy neets, not speculators.

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yegor256.com/2017/08/15/bitcoin-pyramid.html
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eh i wouldnt call it a scam but they're obviously a bubble. companies' stock price jumping 500% from adding crytpo buzzwords to their name is straight out of the dotcom era. people tend to overvalue novel technology even when it's poorly implemented and impractical.

90% of them are.
buy high marketcap coins only if you want to use it as currency

You should make your own cryptocurrency then

>Are cryptocurrencies a scam?
as someone who never messed around with that nonsense i'll explain the best way i can.

cyptocurrencies (in this case bitcoin) are little digital statements of money that people get in return for processing vast amounts of transactions. what these transactions actually are is kind of shady and throwing out your hardware to be a part of a blockchain is something you should think about, like critically. a lot of people don't have the hardware necessary to process these transactions (or mine) so they trade and invest from their phones. the value of all the se little shitcoins is questionable and fluctuates about as much as the real stock market and as dangerous as the lottery so if you're gonna mess with this play it safe, don't throw in your whole savings but if you succeed you can turn that shit into fiat and cash out with real usable money.

my reason for not partaking in this is that i'm poor, and need every dollar i have. i also don't know who's behind all of this stuff and mining would make my power bill go up most likely. energy ain't free.

Not a scam, just a bubble. You can make money out of it but you'll never know when it'll burst.

Unless you are buying the coin to use as either like gold (aka bitcoin) or a currency, then 9/10 times its a scam.

mommy

Its something where the only value is from people wanting them. 100% chance of a cosmically huge crash at some point in the future for all cryptocurrencies.

Also, I'm very pissy at them for causing all PC hardware to double in price.

I wish I was a cute dominant girl like her.

s-sauce?

As someone who has some money on crypto, it's undoubtely a bubble. Most coins are completely useless, and virtually no one uses crypto as actual currencies, or gives them any practical use. Their value is almost entirely speculative.

Doesn't mean you can't make money (or lose it all) out of them, though. And blockchain is here to stay.

As if you're going to get sound replies w/ that stupid ass pic.. You already know what went in the field. Also, reported the thread pic

>implying I feel threatened by some microdick skinny tranny

lol

Have you seen any person legitimately get rich from buttcoins of any type by mining them? All the real money is in profiting off of miners themselves. Selling already mined coins and hardware is where the real money is. The ones why buy shitloads of GPUs and hoard their coins will never get the chance to cash out because the simple act of doing so can burst the bubble.

>implying implications

yegor256.com/2017/08/15/bitcoin-pyramid.html

Post your supposedly non-microdick.

I bet you're used to bigger dick, aren't you?

inb4 op gets deleted even though nips through shirt and cameltoe is perfectly fine

I was banned for creating a thread with a picture that had a semi-political anti-sjw display of some happening.
I guess mods are gay and they are happy with your gay pic.
Sup Forums at all its glory.
ind4
>shaping dicks into vaginas is technology

>do you *feel* in charge
I'd like to *feel* "her" charge my sphincter, ifyanowatimean

>Have you seen any person legitimately get rich from buttcoins of any type by mining them?

post about it in youre blog

i too crave benis

how triggered are you to vomit anger at the guy pointing out hypocrisy

if you disagree with his statement feel free to prove it wrong

Literally everything you typed applies to all markets, currencies, and goods throughout history.

Only difference is that with crypyo the individual or individuals can create something free of centralized control, no bankers, no nationstates, no shareholders, no businesses. Just the free market at its core.

This is hilariously bad. I don't understand how he doesn't realize he's just describing how markets work in general.

>I'm Yegor Bugayenko (Russian: Eгóp Бyгaéнкo), a programmer, founder, investor, and philanthropist.
Your answer. He's not just dumb, he's dumb on purpose because he wants to deceive people.

>Have you seen any person legitimately get rich from buttcoins of any type by mining them?
nope

for all we could know, bitcoin could just be one big performance art

I know several people who told me they know someone who got rich off it.

>"it's a pyramid"
>"b-but th-that's just how markets work, user!"
Exactly. You just understood why capitalism sucks.

how do you know these people didn't hear some crazy testimonial?

you can go to /biz/ and read all sorts of hilarious "ahaha holy shit guys i got rich" stories but to take them at face value would be naive. i'm pretty sure hiro is reaping benefits from all of this nonsense too, a lot of the kids that come here are just too gullible

No not really I have 40k worth

t. college freshman

People that got in early and got a bunch when the getting was good are rich. I don't really see why people think they are going to make a lot these days.

>40k worth
did you cash out or not memehead?