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by chx
3080 days ago
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Not quite. We see ordinary people "invest" in what we perceive as gambling at best and a scam at worst and are infuriated by how various people, media etc are egging them on. The Washington Post had it right in 2015 even though they didn't even use the neologism "hodl": > - Hey, do you want to hear about the future? It's a digital currency called Bitcoin that lets you spend or move your money online without paying any fees. - Sounds great. How does it do that? - Well, Bitcoin saves you money by making transactions irreversible. - So ... if I get scammed, I got scammed? There's nothing I can do about it? - Yes. -
Okay, but is it at least easy to use? - The thing is, I don't actually use it. I just hoard it. I'm waiting for some greater fools to push up the price by using theirs. - Oh. -
Yeah. So you should buy some Bitcoins and use yours. This is nothing but a scam. We don't want people to be scammed. |
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How does it do that? Irreversible transactions allow the currency to be decentralised, but I don't think they were even intended to be a means of saving money.
> So ... if I get scammed, I got scammed? There's nothing I can do about it?
Cash has much the same problem.