this post was submitted on 10 Aug 2023
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Asklemmy
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Cryptocurrency in general. Even on the surface, as presented, the main appeal to buy in is "to get rich from it" and the main way you're supposed to get rich is "other people buying in, get in early while you can."
Ponzi. Schemes. All of them.
Many years ago, I was watching an Ukrainian twitch streamer. She's couldn't get a Paypal account, so the only normal way to donate would involve huge fees or Russian-only websites. Crypto was by far the easiest and cheapest way to donate. I'll admit that I don't see a need for it on a massive scale, but there are use cases beyond what blind scam screamers imagine.
Back in the early days (early 2010s was when I first heard of it) when Bitcoin was worth pennies on the dollar that was exactly the kind of thing it was good for, and it was marketed as an international currency not beholden to governments. It is a shame that it got taken from that for the sake of "Bitcoin being valuable because you can profit off owning Bitcoin."