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[–] 64 points 2 years ago* (6 children)

So... I'm guessing the plebs get the cryptocurrencies. Which are backed by stablecoins... which are backed by tech grifters saying "I can cover it bro, trust me".

Meanwhile the elites will take all that worthless gold and dispose of it for us.

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  • [–] 21 points 2 years ago (5 children)

    Bitcoin is backed by the price of coal.

    For all intents and purposes, bitcoin is effectively minted coal.

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  • [+] 23 points 2 years ago* (last edited 1 year ago) (1 child)
  • [–] 0 points 2 years ago

    That's probably a better way to put it yeah.

    And as fucked as it is, it is a fact that this does hold value and is backed by it.

    It's just a pretty shit thing to be backed by ethically.

    But nonetheless, there is value in bitcoin, it's just best we don't encourage further investment in such a thing.

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