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Merged Bitcoin - Part 3

In case it needed to be said:

Don’t **** Anybody Who Wants to Get Your Consent Uploaded to the Blockchain
Consent needs to be fluid, and the blockchain is anything but.
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https://www.vice.com/en/article/paqvn7/dont-****-anybody-who-wants-to-get-your-consent-uploaded-to-the-blockchain-legalfling-app

Using the LegalFling app, when two or more people want to have consensual sex, they both digitally “sign” a contract in the app. LegalFling then attaches a cryptographic hash of the interaction (a string of characters that represent the text) to a small amount of cryptocurrency that’s sent through the Waves network, a blockchain platform in the same family as Bitcoin and Ethereum. The hash is then permanently placed on the Waves blockchain for anyone to see.

A blockchain, whether it’s Bitcoin’s, or Ethereum’s, or Waves’, is basically a public ledger—it's a list of transactions that anyone can see, and it's secured with cryptography and expensive computing power. The ledger is shared between everybody running the blockchain's software, making it nigh-impossible to edit without anybody noticing.

The app was thoroughly panned last week for being a clumsy gimmick started by men, and for fundamentally misunderstanding the concept of sexual consent—which cannot be managed by a document. It needs to be a fluid process, open to revocation at any time, and legal contracts give off the exact opposite vibe. The app promises that consent can be revoked with a tap, but records on the blockchain are permanent.
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Yeah, seems like a good litmus test, anyone who thinks this is a good idea is not someone to be trusted in your intimate life.
 
Checkmite said:
In theory, sure. In practice, it almost never works that way. When you buy a game from the Microsoft Store by redeeming Bitcoin, Microsoft isn't keeping that Bitcoin and using it later for corporate purchases; they're cashing it out.
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The post I responded to said you have to exchange it for cash eventually.
 
jeremyp said:
Even if this were true, it doesn’t address my point
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Your "point" was that scammers are a bigger threat than the government. This is only true for the greedy or dishonest. As WC Fields pointed out, "You can't cheat an honest man".

OTOH the government is a threat to everybody. The Morrison government is in the throes of bringing in the most oppressive "anti trolling" legislation ever. It would criminalize criticism of the government.
 
psionl0 said:
Why didn't you just say "yes"? Do you realize that's 60 seconds of my life I will never get back again?
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🎶Once you hear the story of Damon crypto🎶 🎶You must share the story of Damon crypto 🎶 🎶Or you'll be consumed by Damon crypto🎶 🎶Which is like dying but it's worse!🎶
 
psionl0 said:
Your "point" was that scammers are a bigger threat than the government. This is only true for the greedy or dishonest. As WC Fields pointed out, "You can't cheat an honest man".



OTOH the government is a threat to everybody. The Morrison government is in the throes of bringing in the most oppressive "anti trolling" legislation ever. It would criminalize criticism of the government.
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Are you seriously saying only the greedy and dishonest get scammed?
 
a_unique_person said:
Are you seriously saying only the greedy and dishonest get scammed?
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Are you strawmanning me or do I really need to spell it out?

Anybody can be scammed even if they believe they are making an honest deal with a reputable firm. But if they are not enticed by promises of ill gotten gains then they are far less likely to be scammed.
 
psionl0 said:
Are you strawmanning me or do I really need to spell it out?

Anybody can be scammed even if they believe they are making an honest deal with a reputable firm. But if they are not enticed by promises of ill gotten gains then they are far less likely to be scammed.
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Seems to me most of the people getting scammed in crypto are not seeking "ill gotten gains", but are being deceived by classic financial scams that are cloaked in techno-babble.

Speculators trying to get in early on the next big thing are ripe targets for scammers, and I wouldn't describe these dupes as seeking ill gotten gains.
 
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SuburbanTurkey said:
Seems to me most of the people getting scammed in crypto are not seeking "ill gotten gains", but are being deceived by classic financial scams that are cloaked in techno-babble.

Speculators trying to get in early on the next big thing are ripe targets for scammers, and I wouldn't describe these dupes as seeking ill gotten gains.
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Profits far in excess of what you would normally expect from an investment or "something for nothing" is close enough to what could be described as "ill gotten gains" that there is no point in splitting this hair.
 
If someone can only scam a scammer does that mean everyone who is taken in by multi level marketing is trying to scam people? A lot of them are people looking to start a business and trying to get on the capital side of capitalism.
 
ponderingturtle said:
If someone can only scam a scammer does that mean everyone who is taken in by multi level marketing is trying to scam people? A lot of them are people looking to start a business and trying to get on the capital side of capitalism.
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I don't know who is claiming the highlighted and it has nothing to do with the rest of your question.

Not all forms of MLMs are scams (the corner shop could be said to be part of an MLM) but if the only way to make a profit from a particular MLM is to recruit others to sell the same MLM then I would say that the participants are working a scam (whether they realize it or not).
 
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psionl0 said:
I don't know who is claiming the highlighted and it has nothing to do with the rest of your question.

Not all forms of MLMs are scams (the corner shop could be said to be part of an MLM) but if the only way to make a profit from a particular MLM is to recruit others to sell the same MLM then I would say that the participants are working a scam (whether they realize it or not).
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Lol, sure. If you redefine words to mean things they don't, yeah I guess I can see it that way. Franchised 7-11 stores aren't MLMs.

The crypto-MLM comparison is pretty apt. The whole thing relies on perpetual growth and recruitment so early adopters can profit off the greater fool that come in later. They face the same problem, eventually you run out of greater fools.
 
psionl0 said:
ftfy.

Nobody is being recruited to buy and sell cryptos and recruit others to do the same thing. It's just plain old check the current price and decide if you want to buy or sell at that price - just like any other product.
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The whole NFT "bored apes" craze is exactly like that. They even use much of the same language about "communities" in an attempt to attract new members to drive up value.

An MLM promises a fraudulent version of a small business.

These NFT scams promise a fraudulent version of a capital investor.
 
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In traditional investing when you invest in something it eventually has to do something or at least promise it will in the future. If I buy oil futures I'm buying the idea that in the future oil will exist that someone will pay for, and even that's borderline shady in my opinion. If I invest in a company I expect it will make money some day.

What's the "future" for crypto? What's is going to do tomorrow that it isn't doing today and what is it waiting on?

It's not a product, it's not service, and it's not going to be either one of those things in the future nor pretending it is going to be. If there's an economic definition of "nothing" better than that I'd love to hear it.

Even MLMs have to lie to you and tell you that you'll have a bunch of people working under you one day. This is like an MLM that starts AND stops at the first step and admits it.

At least with Beanie Babies we actually got the Beanie Babies.
 
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