Colored Crypto Pills

in LeoFinance3 months ago

There's no spoon.

Normally I don't go into debates over particular articles. First, I don't want to spend my time arguing, and second, I don't want to accidentally upset guys who spent some effort on writing (even if I consider their writings being complete bullshit).


However, recently I've run across a bunch of independent posts that seem nevertheless unintentionally related to each other. I decided I could write some funny bullshit about it.

The first article is A DeFi platform with actual use case about yet another DeFi-ish shit which

Unlike most liquidity programs that reward participants with tokens that will invariably be dumped and increase sell pressure, this one offers the opportunity to include NFTs and stuff to the rewards. So for example, Dcity could wrap SIM and then pair it with Ethereum to provide liquidity. Participants could earn cards in the process, and invariably boost the price of SIM by reducing supply in the market.

Well, is this a "use case"? Really, is this a use case?? Holy shit...

Anyway, let's look at other "use cases" -- Does cryptocurrency adds anything to society? Ok, it adds:

  • Remittances. To send an international wire transfer will easily take 3-5 business days and that's assuming you aren't sending on a weekend, a bank holiday or have any other issues. And that's if your lucky. I have heard about remittances in some situations taking weeks only to arrive at a bank that's 100 miles away from where the receiver lives. Cryptocurrency bypasses all of these problems. I can send a Bitcoin to anyone in the world within an hour; that might be too slow if I want to buy coffee but it's lightning for sending remittances.
  • Bank the unbanked. Bitcoin and other decentralized blockchains are very open and don't require loads of identification, minimal amounts of crypto to be held in a wallet (unlike bank accounts) and don't have ridiculous fees. All of this is great for those who lack identity, don't have enough money to open a bank account or live too far away from a physical bank.
  • Protect against currency or government failure. Cryptocurrencies like Bitcoin are not ran by any government or corporation so they are a potential hedge against government and mass market failure. Since cryptocurrencies like Bitcoin are accepted worldwide they are great for refugees, or people who live in a failed (or failing) state.

As I've already mentioned in my comment to that post, the ability to transfer shit N times faster definitely adds something to society. Or to bank the unbanked who live too far away from a physical bank -- and have an internet connection and a credit card to buy themselves some crypto... Well, cryptocurrency definitely adds something to society -- the only question is what exactly it adds.

We can get a hint on that in this article Red pills, blue pills, and Bitcoin bubbles. First, I must note that you should learn the Russian political sphere well enough in order to know who to listen to. Namely, Mr. Aksakov is nothing more than yet another Mr.Putin's clown and a friend close enough to get a well-paid gov position for publicly talking bullshit on various aspects of life. Second, I will skip a discussion on what is "backed" by what. From this article I can conclude that cryptocurrency can save your wealth when the USD debt bubble pops. Well, so far so good. But let's look at who exactly gives us what pill exactly.

When it comes to Bitcoin's durability, the facts paint a very different picture. According to, Satoshi’s brainchild has died some 400 times since its inception.

Well, the US debt (let's talk about it specifically) is a long story, much longer than Satoshi's brainchild, actually. Only God knows how many times it was predicted to pop soon. However, most people don't need any pills to know about the US debt. Or rather, they need a red pill to see that this debt is the very thing that allows even the "below the poverty line" folks of the US to maintain standards of living like the middle class pretty much in the rest of the world (it's easy to comfort yourself that "relatively we're still poor", but hunger is not a very relative feeling, you know). Of course, there're economic ways to gradually deflate that debt bubble with "minimal" consequences -- but even those "minimal consequences" may be too much for many folks and very unprofitable for a few. Are you ready to live through another Great Depression? The politicians know that they will hardly be re-elected if they make unpopular (albeit healthy) decisions, and they try to postpone the problem to the next administration, then to the next generation, and so on -- let's hope our grandchildren will figure out how to deal with it (or they will be more ready to live through another Great Depression). "I will put my life savings into Bitcoin -- and let the debt bubble go on", isn't it what a freshly elected US senator recently implied?

Now let's look at one more article, about Survival of the richest, which is actually a one guy's review of another guy's article (so I'm the third hand in the quotation queue).

It’s a reduction of human evolution to a video game that someone wins by finding the escape hatch and then letting a few of his BFFs come along for the ride. ... The future became less a thing we create through our present-day choices or hopes for humankind than a predestined scenario we bet on with our venture capital but arrive at passively.

"And what the fuck it has to do with cryptocurrencies?", you might ask, "Cryptocurrency is the very thing (or one of, at least) we created in order to affect our future and to make it better for all!" Nope, with cryptocurrency you can neither bank the unbanked, nor grow a tree, nor settle down the US debt bubble. Well, currently cryptocurrency is regarded pretty much like an "escape hatch" when "the Event" comes -- because avoiding the Event will require real unpleasant actions in the real world far beyond the "comfort zone" of many people.

Anyway, I don't mean that you must burn all your crypto right now and go to the streets protesting against the US debt or what shit your government makes today. It would be beneficial to the future of humankind, but honestly, I neither do it myself, nor I demand it from others. Even less I imply that the US guys must go feed the poor somewhere in Africa or Asia, it's neither their fault nor their obligation.

Some time ago at Leofinance I run across an article by a guy from Nigeria (or some other African country). That guy said that last month with Leofinance blogging he earned more than the Nigerian average salary. I tried to imagine what if all the Nigerians go blogging at Leofinance instead of what they usually do for living there in Nigeria. Then I thought they could cash their earnings out, buy a piece of land and a Kalashnikov, plant a banana tree -- and after the Event they would sell their bananas for bitcoins and other stuff to hungry US folks. Who then says cryptocurrency is useless?!

Playing crypto is a good thing! This half a year I had fun to make $300+ tax-free net out of zero, for free -- and I'm one of the worst players, probably! So make money, have fun, don't be colorblind when offered a pill they say is red, and watch out for the "influencers" to dump their cryptos right on your head.

No offence!

Posted Using LeoFinance Beta


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