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1. lnxw48a1 (lnxw48a1@nu.federati.net)'s status on Friday, 02-Jul-2021 15:29:55 EDT lnxw48a1
   https://www.nytimes.com/2021/06/14/opinion/bitcoin-cryptocurrency-flaws.html
   
   https://www.tbray.org/ongoing/When/202x/2021/06/26/Shorting-Bitcoin
   
   Tim Bray is someone I deeply respect, and have for a long time.
   
   I am sharing these links with the kids, so we can discuss this in our next #cryptocurrency discussion.
   1. GeniusMusing (geniusmusing@nu.federati.net)'s status on Friday, 02-Jul-2021 16:37:19 EDT GeniusMusing

      in reply to
      One common thread with both articles, "greater fools".
      1. lnxw48a1 (lnxw48a1@nu.federati.net)'s status on Friday, 02-Jul-2021 18:06:15 EDT lnxw48a1

         in reply to
         @geniusmusing Yes, which is why I’ve been concerned for a while that most people seem to use #cryptocurrency exchanges (or LocalBitcoins, but that’s basically a form of exchange) as their onramp to cryptocurrencies.
         
         That’s replacing one set of untrustworthy intermediaries (banks and PayPal) with another (cryptocurrency exchanges). And making it so that people who buy have a lot of assets tied up, hoping that someone comes along and pays more to gain those assets (greater fool theory).