this post was submitted on 26 Aug 2024
396 points (98.3% liked)

News

22890 readers
3738 users here now

Welcome to the News community!

Rules:

1. Be civil


Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban.


2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.


Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.


3. No bots, spam or self-promotion.


Only approved bots, which follow the guidelines for bots set by the instance, are allowed.


4. Post titles should be the same as the article used as source.


Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.


5. Only recent news is allowed.


Posts must be news from the most recent 30 days.


6. All posts must be news articles.


No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.


7. No duplicate posts.


If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.


8. Misinformation is prohibited.


Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.


9. No link shorteners.


The auto mod will contact you if a link shortener is detected, please delete your post if they are right.


10. Don't copy entire article in your post body


For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.

founded 1 year ago
MODERATORS
 

The crypto industry is making its mark on this year's elections to the tune of some $119 million.

The funding has largely come from two companies — Coinbase and Ripple — which are funneling money into super PACs like Fairshake PAC, which is dedicated to "elevating pro-crypto candidates and attacking crypto skeptics," according to Public Citizen.

At the 2024 bitcoin conference in Nashville in February, Trump — who called bitcoin "highly volatile and based on thin air" in 2019 — said he'd lay out a plan "to ensure that the United States will be the crypto capital of the planet and the bitcoin superpower of the world." Trump has already won the backing of several crypto enthusiasts, including his running mate JD Vance, who owns at least $250,000 in bitcoin.

you are viewing a single comment's thread
view the rest of the comments
[–] z3rOR0ne@lemmy.ml 28 points 3 weeks ago (1 children)

Oh yeah, Paris Marx covered this on his Tech Won't Save Us Podcast with Writer and Crypto Skeptic Molly White.

Not that it needs bearing repeating, but Fuck All Crypto Bros.

[–] Allero@lemmy.today -2 points 3 weeks ago (2 children)

Crypto absolutely does have utility, but it's not currency of the future.

People going against all crypto lack nuance, and people promoting crypto as solution to all problems are either naive or deceptive.

[–] Honytawk@lemmy.zip 8 points 3 weeks ago (1 children)

As long as I have not seen blockchain do anything even remotely useful that couldn't already be done better before without it, I will keep calling it useless.

[–] Allero@lemmy.today -4 points 3 weeks ago

The only common private immutable money?

[–] explodicle@sh.itjust.works 3 points 3 weeks ago (1 children)

So then what do you think it does solve? "Blockchain not money" is a phrase popular with scams too.

[–] Allero@lemmy.today 0 points 3 weeks ago* (last edited 3 weeks ago)

Blockchain has more utility than crypto, but keeping focused on the latter, crypto may allow for anonymous (pseudonymous) transactions* that are also immutable, which can preserve your privacy and also allow you to financially support whoever government doesn't want you to support - be it protesters, or your relatives in sanctioned jurisdictions, or, say, Ukrainian army if you are Russian**, or whatever.

It also gives you Internet money you're in full control of - no one can freeze or seize your assets***.

*This does not apply if you use open ledger cryptocurrency and bought it from a traceable source, especially an exchange that requires KYC

**I am Russian, and I do not transfer money to Ukraine. Rest assured, dear FSB agent. But many people do, and they should be protected

***Assuming you use a trusted non-custodial wallet and adhere to basic DeFi hygiene if you use it. Also, sometimes, like when you do crime, inability to freeze your assets is bad. But I did happen to be in a situation when all my bank accounts were wrongfully arrested, and it took me 3 weeks to make my appeal approved by the court to restore access to my own money. Makes sense for me now to keep some money in cash and crypto.