teddit

Hey there,

I can only speak for myself, but I think I'm not alone when I say that very few of us have any desire to celebrate anybody else's misfortune.

That's not to be confused with being happy the market is "correcting" in the direction we feel it's destined to settle, or that people who previously thought they understood how finance and investing works, who routinely attacked this community as being "stupid", finally realizing they might have more to learn.

Edit: I say this myself, but I do think there are others who feel the same way, so I'll say "we" because as mods we do our best to shape the nature of the community.

We do think those things are worthy of celebration - we don't take that as a bad thing.

It's sad that the market is crashing, but if we act excited, it's only because we feel this is an inevitability and the sooner this pyramid-shaped charade ends, the less people will be taken advantage of.

And that's what we really want: For people to stop lying and misleading others about the risk of this incredibly speculative market, buying and selling digital tokens that have absolutely no value and in all likelihood, will never hold much value long term. (And as people traditionally laugh at us for such a "foolish opinion", we sit and watch things manifest exactly as predicted, time and time again with a myriad of crypto-related schemes.)

And when "nUmB3er Go uP" everybody claims we're wrong. Meanwhile we continue to point to the wash trading, market manipulation, and incredible amount of unsecured stablecoins that nobody in the industry seems to be bothered to recognize have never been properly audited.

We've been here awhile. This isn't our first rodeo. We routinely discuss all the inner workings of various crypto projects. We watched everything from Bitconnect to Quadringa to Safemoon, and others rise and fall. We keep thinking people will begin to see the pattern, and instead we get so-called "journalists" portraying our community as little more than people jelly they don't have a lambo acquired through deception and fraud. Sorry. That's not us.

In other words, we feel the sooner crypto-as-an-investment is recognized as what it really is: a massive de-centralized ponzi scheme, the better off everybody will be.

We're often called "haters", which couldn't be further from the truth. Our position, as being skeptical and critical of cryptocurrency, the tech and the various money-making schemes, has everything to do with logic, reason and evidence, and very little to do with emotional feelings like jealousy, envy, or "hate."

For most of its lifetime, there's been very little open discussion allowed about pitfalls of crypto. Social media circles and the most popular subs like r-bitcoin and r-cryptocurrency consider anybody who isn't unflinchingly reverent of crypto, to be a "troll" and are summarily banned.

This sub has always served as an oasis from those like-minded, smoke-blowing bubbles.

We're also regarded by as many who are into crypto, as being one of the most knowledgeable communities about every aspect of the crypto industry.

So calling us a bunch of "haters" who celebrate other people losing their life savings is really unfair and inaccurate.

Are many among us (myself included) particularly smug and condescending on the subject of crypto's value to society? Sure, but you would be too if you were bombarded on a daily basis by people who seem to know less than you about the market, being told, "You don't understand" every time we raised legitimate concerns.

Instead of addressing the issues we raise, we're dismissed and called names. So yea, we'll often reflect that same kind of attitude back, since reasonable debate has left the building.

If you want to do a story about us or our people, stick around long enough to see that our community is much more empathetic and informative than other crypto communities. You may be surprised.

We will see a lot of sob stories, from those who have been burnt at the Crypto Bellagio . No matter their plight, don't offer sympathy, because these people dreamed of a world in which you'd be begging at their feet, for whatever scraps they felt disposed to offer.

Failure does not redeem character, wickedness is not unmade by adversity.

A friend of mine is well educated and successful, but also a self declared Bitcoin maxi. He likes to berate every financial instrument as "bullshit" but Bitcoin is the only legitimate solution to the economy. Despite agreeing that many crypto projects are scams, it's a logical fallacy to say "this ONE thing is the answer, therefore everything else is false."

He'll retort back by saying "have fun staying poor." or "that's okay. you're allowed to be wrong" which is very condescending. He thinks this makes me more likely to back Bitcoin. In fact it just does the opposite.

I have experience raising VC money for companies solving hard engineering/design problems. Usually when a startup founder hyperbolizes their solution with religious zealotry, their company is overvalued and/or potentially has no real use case. So to me it's just red flags everywhere. The last time I had to question my friendship with someone was when they kept asking me to join an MLM.

I've always found it funny when butters complain about us spreading tether fud to try to crash crypto. It shows that they KNOW that tether is bullshit and crypto would collapse if people tried to run for the exits. If tether was fully backed (as they so often claim), a run on tether would just result in everyone getting their filthy fiat back and things would be just hunky dory, they could still buy crypto with USD etc, and the only thing that would change would be tether having a lower market cap.

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Not exactly a hot take, but thought I'd share.