Pump-and-dump schemes, fraud, ransomware, multi-level marketing, spam, incentivizing selfishness, greed, and general unethical behaviour, buying elections, quasi Nazis creating their own coins, et cetera. In my opinion, over the years the evidence has piled up tall enough to show that crypto"currencies" are an overal detriment to society.
It therefore surprised me to discover that behind the ♡ donation button on top of most Lemmy instances except for Beehaw, there is an option to donate “crypto”. This sets a bad example. Thoughts?
A knife is a tool. Knives can be used for food and violence. However, knives do not persuade their users to buy as many knives as they can, they do not incentivize manipulating others to do so too, nor do knives inherently encourage violence. The exact opposite is true for crypto"currencies" because these are multi-level marketing pyramid schemes. As soon as one joins the Crypto Cult one benefits from recruiting new members—often by indoctrination and/or demagoguery.
This statement have the following fallacies:
Straw man.
Appeal to emotion.
Ad hominem.
Cherry picking.
Not true Scotsman.
Hasty generalization.
Begging the question.
False dilemma.
Unfortunately that’s true for most of them. I believe that monero is the difference though, it is actually used as a currency, not as an investment vehicle