Bitcoin stands out in the crypto world for its decentralized nature, ensuring no single entity has control. This transparency and distribution protect against centralized rug pulls—a common issue with many altcoins. Unlike these cryptocurrencies, often managed by a select few who can manipulate the market, Bitcoin’s decentralized design aligns with ethical financial principles, promoting fairness and trust.
#Bitcoin #Decentralization #CryptoEthics #shitcoins
Bitcoin is the only one. The rest are scams
Even the meme coins?
If you launch a scam coin and declare it as a scam and people buy it anyway, is this a scam?
Yes. People will hold it as it goes to zero. Meanwhile the founders get rich
Still a scam, but willing retards think they found a glitch
I’m not so sure, tokenomics aside, if you say it’s a scam and it is, then is it?
The paradoxical statement “I always lie” comes to mind.
Are placebos a scam?
Apologies, I’m getting philosophical in my old age, please ignore if I’m boring you 😂
I can't get passed the idea of buying a scam coin to understand the philosophy behind it
I understand your philosophical meaning.
Placebos are not a scam. The person thinks it helps so it helps
For shitcoins, the holder can think they will get rich as much as they want, but they won’t. Only the founder will. There’s no placebo to bitcoin. You need the real thing
I don't think it's a scam, at least not semantically.
You might check this and prove me wrong but every definition of the word #scam I've seen has included the words #trick or #deception
#words #lexicography
I'd say the word we need here is #Malfeasance - though that has connotations of Govt #misconduct.
I used to hold the position that #meme #coins are harmless, no different to the fan exploitation in sports like #football or #F1 but now I'm not so sure, because the indirect impact of these #memes will be the global regulation of #crypto.
I wish #crypto didn't need #regulation, but #dogecoin and it's kind are changing my mind.
memecoins are trick and/or deception in the sense that the people who buy them and hold them think they will get rich with them. When in fact only the founders will. Malfeasance also makes sense but scam is easy for anyone to get: basically it has a negative connotation and is not a good idea to buy and hold
I also think there are real grey areas too. Some #coins like #filecoin and #orchid are theoretically useful. In those cases you need to be able to see that there are better alternatives to blockchain to fulfil those uses.
That's not really a trick in either case because it's quite possible the authors really believe in what they're doing. We have no way to tell.
Other examples like #qrl are actually half persuading me they're necessary, since e probably will need a #quantum resistant ledger at some point and even at worst QRL gives that problem attention.
