this post was submitted on 14 Jun 2026
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Crypto is a ponzi scheme. And gambling.
Seriously. Listening to podcasts on the run-up to the stock crash is so maddening. Almost 100 years have gone by and people have learned nothing.
Greed is eternal.
And 10% of investors do make money on crypto! So you could be one oc them! It is like lottery just with all of your life savings spent on it!
My absolute favorite part is Bitcoin/etc coin ETFs. Why the heck would you not do self custody if you decided to invest in a lottery ticket?
I'd argue we have learned. The problem is the fox got back in the henhouse after we took it out.
The general question which I don't think any of us have answers for is when we correct this again how do we make it permanent?
To paraphrasee the great Team America there will always be Dicks, Pussies and Assholes.
Yep. Sweeping market regulations were put in place after the stock market crash that led to the Great Depression.
Most of those reforms have already been removed now, in the ever-popular name of 'removing unnecessary regulation'.
To quote the great Battlestar Galactica:
The Trekkian belief in inevitable progress is an illusion. Humans are trapped by their psychology into corrupt systems until we destroy ourselves.
Until then, it's just a cycle of learning from our mistakes, to forgetting those lessons, to repeating those same mistakes, again, and again, and again.
Honestly, I think the Singularity -- real superintelligent AI -- might be our only chance of escaping this cycle of stupid. There's a chance that our new AI overlords could be benevolent and above this petty human bullshit.
Article: https://piefed.social/c/fuck_ai/p/2138030/researchers-put-ai-chatbots-in-charge-of-a-simulated-world-this-one-destroyed-everythin
Well, that's why I said real superintelligent AI. What we've got now sure ain't it.
There was just an article on the front page somewhere about putting llms in charge of civilization in simulation. Claude's lasted the longest--ten days. Grok killed everyone in 3.
Well, in general, yes.
But these multiple different Trump-coins ... they're just fraud and grift. They serve as psuedo-legal ways for rich people to buy political influence, and they serve as ways to extract more money from their idiot followers.
Other forms of crypto -- forms that are actually trying to grow and be traded -- are indeed ponzi schemes and gambling. But Trumpcoins don't even rise to that level.
And that's why i was surprised because they are getting a stablecoin vs trump backed meme coin that would gain liquidity by plastering its name in the news.
Stablecoins are a bit better.