1045
Please bro
(sopuli.xyz)
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 22 Aug 2025
1045 points (99.1% liked)
Memes
11925 readers
613 users here now
Post memes here.
A meme is an idea, behavior, or style that spreads by means of imitation from person to person within a culture and often carries symbolic meaning representing a particular phenomenon or theme.
An Internet meme or meme, is a cultural item that is spread via the Internet, often through social media platforms. The name is by the concept of memes proposed by Richard Dawkins in 1972. Internet memes can take various forms, such as images, videos, GIFs, and various other viral sensations.
- Wait at least 2 months before reposting
- No explicitly political content (about political figures, political events, elections and so on), !politicalmemes@lemmy.ca can be better place for that
- Use NSFW marking accordingly
Laittakaa meemejä tänne.
- Odota ainakin 2 kuukautta ennen meemin postaamista uudelleen
- Ei selkeän poliittista sisältöä (poliitikoista, poliittisista tapahtumista, vaaleista jne) parempi paikka esim. !politicalmemes@lemmy.ca
- Merkitse K18-sisältö tarpeen mukaan
founded 3 years ago
MODERATORS
It’s all hype cycle bullshit. The Tech bubble was bursting so they hyped AI well past it’s true capacity. Investors threw money at it to hype it so others would buy in. The stock market is all hype. It just hypes anything it can to keep the growth artificially going. AI has real uses, but that wasn’t sexy enough for Wall Street. That wasn’t going to make the endless growth lie sustain. Then the bubble pops and the billionaires swoop in and steal more from everyone else.
crypto was the previous shiny new toy until it dint work, now AI will go through the same fate.
The market cap of crypto is currently at all time highs.
Riiight, and how much of that is due to things being in actual "real-world" use, and how much of that is due to speculation?
Oh yes. A huge amount of speculation. Just like NVDA.
My point is that you can say a lot of negative things about crypto, but you can't say it doesn't work. It definitely works.
It doesn't work as a currency. It "works" as a speculative investment in that the bubble hasn't yet popped.
But, what if the bubble doesn't actually pop, and the prices remain at the current levels, more or less, for another couple of decades. If that happens, will cryptocurrencies be seen to "work"?
I think i made a mistake by using the market cap as evidence that it works, because this just shows people believe it is valuable. Not that it works.
What I mean is that the technology is mature and adopted by a large number of independent users. However, it doesn't yet have mass adoption because the user experience is not yet seamlessly integrated into legacy systems.
Works, as in what exactly?
Works as a publicly shared, immutable, secure database (and small calculation) engine.
I own crypto because I believe in idea of decentralised money, but I acknowledge that current solutions are just all bad in one way or another. If fiat disappeared tomorrow and everyone would be forced to use crypto daily, it would be a shitshow.
From an end UI perspective, certainly.
But if SWIFT was suddenly replaced by a blockchain technology then the world wouldn't even blink.
You kidding? How many transactions per second bitcoin blockchain can do?
Lightning can, in theory, do one million transactions per second. But Bitcoin networks aren't really a drop in replacement for Swift.
Banks like J.P. Morgan prefer chains like Canton that are privacy enabled and have no upper limit on transaction.
First time hearing about Canton. Is it properly decentralised?
You've not heard of it because it is banking focused. It's the newer option made to compete with Quorum and Corda.
It is decentralized, but it is not open write access. It a public permissioned network of private ledgers.
You and I could validate that the network is cryptographicly consistent, but we don’t have decentralized permission to interact.
So, not decentralised in it's original sense, if a pack of people decide which operations are allowed. Decentralised as in "not a single bank".
See, this is what I mean when I say they all have flaws.
There is no central entity, so it is decentralized in the original definition. I gave Canton as the example because it could be immediately substituted for Swift. It's permissioned access by design, because banks don't want to risk their monopoly position.
For speed and cheapest, go for solana.
For reliability go for Ethereum. For reliability, speed and cheapness choose an L2 on Ethereum.
For illegal stuff use monero.
There are trade offs between them, but I wouldn't call them flaws. Blockchain as a technology definitely "works".
If you have trillemas all over it IS flawed in one way or another. End users won't get through the complexity of multi-choice where every one has downsides. How do you even drive the adoption if every store would accept only their crypto of choice?
Ethereum has solved it's trillemas. Fiat has it's own flaws.
User experience is certainly a blocker. The only way round that at the moment is to put a familiar medium between the user and the crypto layer.
Everybody knows market cap is directly proportional to real world value and usefulness.
There is always someone who reckons they can get something from nothing. Also long as they exist the bubbles will continue
I'm so glad my 401k is going to vaporize because it's mostly tech companies.
As an ignorant non-American who doesn't know how 401k works, could you not redirect where your investment/retirement goes?
Only slightly, unfortunately it's not as flexible as a normal investment account. I've done a good bit of trying to lessen the damage though. Basically, with my specific account, I can pick from around 7 or 8 different funds, many of which include huge tech companies.
Unfortunately, even if I invest only in one, it's likely going to get affected by the bubble popping since everything is ultimately on the same market as the slop peddling companies.
That sucks. I work for an American company and I have to have mandatory pension contribution. I only put in 3% of my salary to it and stated I want them invested into medium risk funds.
I don't trust company pensions to be my sole source of retirement funds, and so I started my own investment portfolio. Even though I know US companies are more profitable, but with the way things are going, I limited my investments to select few US companies and I plan to invest more on Asian and European stocks.