Priem19

Joined 7 years ago

Karma

350

Submissions

112

Member since

Nov 25

https://www.cynicusrex.com

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Recent submissions

Comment · 5 years ago

Financial demagoguery.

Comment · 5 years ago

Work less. I realize one can't just go up to their employer and say “I'm gonna work 3/4 or 1/2 now.” And it depends on how far above or below your means you live. However, we need to get people talking about this. Don't live to work, work to live. Unless you've hit the jackpot and do something you love getting up for in the morning.

Comment · 5 years ago

>Until such time as central banks cease to exist, bitcoin will also continue to provide a convenient method for holders of this currency to avoid paying taxes to fund all of the waste and corruption not only in the federal reserve banking system, but in other government agencies as well.

As long as humans are selfish and ignorant, so will the governments. Technology is going to do bugger all to defund wasteful enterprises, let alone a pyramid scheme.

Comment · 5 years ago

Then don't reply.

Comment · 5 years ago

“Simply because cancer occurs naturally doesn't mean we shouldn't treat it. In the same vain, sometimes the “free market” just screws up, requiring intervention.” —https://www.cynicusrex.com/file/cryptocultscience.html

Bitcoin and cryptocurrencies in general are pyramid schemes. They deserve no place in the economy.

Comment · 5 years ago

“Fractional reserve banking. Since bitcoin hasn't lived up to its original vision, it caused a periodical shift in narrative and splintering of its early core developers and adherents. Currently its 21 million coins cap is the last remaining “perk”* assuming the code won't be altered. This artificial scarcity might make for an attractive appreciating asset, like postage stamps—because “one man's trash is another man's treasure”—but it does not stop fractional reserve banking. Just as governments went off the gold standard, they can get off the envisioned bitcoin standard. And just as banks lend out money that doesn't exist, exchanges can lend out bitcoin that don't exist, which already happens (24). As predicted by one of its earliest pioneers:

“I see Bitcoin as ultimately becoming a reserve currency for banks, playing much the same role as gold did in the early days of banking. Banks could issue digital cash with greater anonymity and lighter weight, more efficient transactions.” —Hal Finney (25)

While his prescience is eerily accurate and impressive, it lacks imagination. The irony is that this envisioned system breeds the same environment that led to the 2008 financial crisis, which instigated the development of bitcoin. My point here is not that fractional reserve banking is fundamentally bad. I don't think it is. My point is that if fractional reserve banking is good then bitcoin is redundant. Whereas if fractional reserve banking is bad then bitcoin is redundant as well because it does not prevent it. Once more, prosperity boils down to good policy and governance.” —https://www.cynicusrex.com/file/cryptocultscience.html

Comment · 5 years ago

I think you seriously underestimate how ugly society would get if the government went bankrupt, and how quickly bitcoin would be rendered useless. Moreover, if governments are corrupt on fiat, they'll be corrupt on bitcoin as well.

Comment · 5 years ago

By which I mean to say: the greedy rich wanting to preserve or increase their wealth at all costs is what got us into this mess. Bitcoin or any other cryptocurrency pyramid scheme is going to do bugger all to improve that. No amount of wealth or technology will turn vice into virtue because: “If you have selfish, ignorant citizens, you're gonna get selfish, ignorant leaders.” —George Carlin

Prosperity boils down to good policy and governance. Thus, good people. Unfortunately, as far as I've seen, cryptocurrencies have produced some of the worst kind of people.

Comment · 5 years ago

>Also expect a ton of movement to crypto when wealth taxes get implemented to fix economies. They'll use it to hide assets, guaranteed.

Money corrupts; bitcoin corrupts absolutely. Disregarding all of bitcoin's shortcomings, a financial instrument that brings out the worst in people—greed—won't change the world for the better. https://www.cynicusrex.com/file/cryptocultscience.html.

I used time-travel to uncover three secret messages hidden in a popular Bitcoin meme – “This meme is designed to exploit a number of weaknesses in our understanding of money, and to play on our fears. I’m going to show you how it does it, and why.” https://brettscott.substack.com/p/bitcoin-meme-time-travel.

Comment · 5 years ago

I'm glad you used an adjective because the majority of children I teach would beat most cryptocurrency eschatologists in one fell swoop at a maturity contest.

Comment · 5 years ago

The most sophisticated pyramid scheme ever, hidden in plain sight; so obvious that everyone second guesses themselves. “They all seem to be going along, I guess I must be wrong.”

Money corrupts; bitcoin corrupts absolutely: https://www.cynicusrex.com/file/cryptocultscience.html.

Comment · 5 years ago

I stopped meditating when I wasn't able to laugh any more. I was at a friend's house, sitting comfortably on a couch. I passed my phone and showed my friend and his girlfriend a funny video. They were laughing out loud and so was I, until I became conscious that I was laughing. Similar as to how meditation requires you to be conscious of your breathing. I immediately stopped laughing, and became super serious. Fortunately they didn't look at me and were glued to the screen. It felt remarkably uncomfortable. I tried to laugh again but couldn't, hoping they wouldn't notice. Fortunately I could remain composure and go along but I was desperate to get out of there. At that moment I decided to stop meditating and replace it with going for a walk in nature.

Comment · 5 years ago

Of course: “Buy CTASK”; take your pyramid scheme elsewhere. Money corrupts; bitcoin corrupts absolutely: https://www.cynicusrex.com/file/cryptocultscience.html.

Comment · 5 years ago

I wish I could reply with a nuanced take, but I can't. Ban these cryptocurrency pyramid schemes already. https://www.cynicusrex.com/file/cryptocultscience.html

Comment · 5 years ago

I added a paragraph clarifying my stance on fractional reserve banking. That section could've indeed been easily misinterpreted. Thank you.