Cryptocurrency Is Garbage. So Is Blockchain.

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/r/buttcoin, is that you?

I haven’t seen anyone waste so many keystrokes on such a bloated waste of time since I helped my friend review his master’s thesis.

The guy who wrote this doesn’t even understand the entire purpose of Cryptocurrency which is decentralization. The only time he mentions decentralization is **referring to LIBRA**, which is hilariously apt, because he references it as this:

*7. Libra is a coherent, realistic cryptocurrency project*

Hahahaha.

Oh boy. Not worth unpacking the rest. This is like reading an anti-masker’s view of science, except a no-coiners review of Crypto.

_____________________________________________________________

Ok, and just for the record, I spent nearly 20 minutes reading this drivel, so when the OP inevitably asks me *”Wow, you managed to read this in 20 minutes, you must be super smart?!”* like the rest of the posts, yes, I did waste 20 minutes of my time reading this article before closing it in disgust.

– People “abusing” cryptocurrency flaws using phishing, botnets, or pump and dumps have nothing to do with Cryptocurrency. It is an unregulated environment, which the author clearly doesn’t understand.

– Wobbling about whether “Bitcoin is a currency” or not is irrelevant. At this moment, I can sell a Bitcoin for money or use it as a medium of exchange. That makes it currency, regardless of how much you want to waffle over a definition.

– Again, warbling over the definition of smart contracts and if they are REALLY smart contracts is one of the dumber pieces of writing I’ve seen. What you call them is irrelevant.

– His issue with blockchain is that the current projects available “aren’t doing what they promised to do at scale”. No shit. Scaling is literally one of the most important issues with blockchain.

– Trying to discount blockchain and cryptocurrencies because they are an emerging market by saying they shouldn’t need time is also a dumb argument. Literally everything needs time to develop, evolve, and mature.

– CDBCs using a permissioned, closed blockchain will *very technically* be cryptocurrencies, but he doesn’t understand what makes Cryptocurrencies valuable in that it allows a user *personal, decentralized control over their money*. The entire purpose is to cut out the banks.

– Libra is not a “coherent, realistic blockchain project”. It’s not even a project. It will continue to be strangled by regulation while actual crypto flourishes and evolves.

– Yes, there are plenty of fraudsters and hype artists in Crypto. Welcome to a decentralized area.

– There being thousands of garbage ERC20 tokens has nothing to do with whether or not Crypto is a failure.

– Tether fud, oh boy! Welcome to 2017, old man.

– Crypto journalism **is** trash. I’ll give him that.

Overall, just a bunch of word bloat.

Free Bitcoins: FreeBitcoin | BonusBitcoin

Coins Kaufen: Bitcoin.deAnycoinDirektCoinbaseCoinMama (mit Kreditkarte)Paxfull

Handelsplätze / Börsen: Bitcoin.de | KuCoinBinanceBitMexBitpandaeToro

Lending / Zinsen erhalten: Celsius NetworkCoinlend (Bot)

Cloud Mining: HashflareGenesis MiningIQ Mining

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