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FBI Creates Fake Cryptocurrency to Expose Widespread Crypto Market Manipulation
(thehackernews.com)
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this post was submitted on 14 Oct 2024
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This is like saying "national currencies are all a big scam" because pyramid schemes generally use currency. There are a lot of crypto scams, but that doesn't mean the tech is a scam, just that it's a relatively easy avenue to create scams with.
The FBI can also track physical currency through serial numbers, credit/debit transactions through cooperation w/ banks, etc, but that doesn't make national currencies a scam...
Eh, I'll say it.
National currencies are a scam. No pyramid needes
That's a bit of a rabbit hole, but I think the main argument here is that fiat currency is a bit of a scam since it can be inflated at will to erode value. But in practice, it's pretty predictable in most parts of the world.
A scam is when you get something different than was advertised. National currencies are usually pretty clear about how they're managed, and cryptocurrencies are generally completely transparent. If anything, cryptocurrencies are less of a scam than fiat currencies, though cryptocurencies probably have more scams since they're relatively new and understanding of how they work isn't as widespread as it should be given how much they're traded.
National currencies ARE fiat currencies.
Like the Chinese have been fixing the value of their currency to the dollar, and the federal reserve does exactly that thing where they inflate it at will. Or keep it at zero, and the rest of the corporations inflate it nowadays. Whichever.
Either way, it's a scam. And I'm not saying the gold standard was a great idea either. It worked at the time, i guess? I don't know, I wasn't there. This fiat currency situation seems possibly workable, but I haven't seen it doing so. At least not for anyone who isn't already in the club.
The value of money is all made up bullshit anyway, can we at least get some healthcare out of it? Maybe some roofs? Food?
I like my friends not starving or freezing to death.