YouTube censorship and all that

BDI

Why do the corporations dislike people spending money on bitcoin. Banks refusing to allow credit card transactions and YouTube now doing away with people who big it up.

A fella I work with keeps buying it and talks it up a lot but doesn’t seem to fully understand it. He was saying he could make his own bitcoin the other day but it’d take too much electricity so wouldn’t be worth it. He didn’t really understand why or how or anything. Just kept saying mining and blockchain.

So back on topic, why does the man not like crypto?

Dr Bolouswki

Unregulated (no tax or oversight), consumer protection (ye rite), criminality... but I think mostly because there is no way for "the man" to get a piece of it. I like the outlaw element. Fúck the system! Smash the control machines!

JohnnyFlash

Crypto is a giant ponzi and money laundering scheme and YouTube want no part of it.

Prepare for the announcement of about 500 decentralised social media and video sharing sites over the next month. All will involve a unique opportunity to invest in the future. Just use real money to buy ethereum and send it to their wallet address.

BDI

So, the fact it’s unregulated, what could happen to make it all worthless overnight?

If they found a way of tracing it or if it was devalued by the owners just creating another 5billion bitcoins. Is there a few scenarios like this that can easily happen?

Pintman Paddy Losty

Almost all the content that was on YouTube was just fat lads in baseball caps shilling scam coins.

Not surprised that they want no part of it.

Lex Luthor

JohnnyFlash wrote: »

Crypto is a giant ponzi and money laundering scheme and YouTube want no part of it.

But more than 20 of the worlds biggest banks are...

JohnnyFlash

I’ve given this about 15 seconds more thought, and have decided, that, for once, I agree with the crypto heads.

Crypto is a complete scam, as even the most painfully dull of you are starting to realise. And all those video blogging shills are cynical and vindictive men who pray on the greed of their viewers.

Yet is that much different than having channels with kids marketing toys, or having gambling ads overlaid on music videos?

The problem is that companies like YouTube are just a more extreme example of the rapacious greed that crypto embodies. It’s worrying when a site like YouTube gets to decide what sort of sinister capitalism they want to promote.

Regulation is what is needed. Strong and decisive regulation. For the good of humanity. And I include shutting down crypto scams and miner farms with that.

Grumpypants

BDI wrote: »

So, the fact it’s unregulated, what could happen to make it all worthless overnight?

If they found a way of tracing it or if it was devalued by the owners just creating another 5billion bitcoins. Is there a few scenarios like this that can easily happen?

Nope, no one has control over bitcoin had it has a set amount so no one can just print bitcoin.

People like it as it offers a easy way to send money and buy things. Loads of big corporations like Starbucks now accept it.

The Youtube thing was prob part of their purge. They want to become a network TV platform. That's why they have spent the last few years killing off small channels and "trending" Jimmy Fallan clips.

Lex Luthor

Looks like YT has confirmed it was an error on their part, bans lifted and strikes removed

Just like that....hmmmm

BDI

Grumpypants wrote: »

Nope, no one has control over bitcoin had it has a set amount so no one can just print bitcoin.

People like it as it offers a easy way to send money and buy things. Loads of big corporations like Starbucks now accept it.

The Youtube thing was prob part of their purge. They want to become a network TV platform. That's why they have spent the last few years killing off small channels and "trending" Jimmy Fallan clips.

But surely people can make it?

Lex Luthor

BDI wrote: »

But surely people can make it?

Make it?

BDI

Lex Luthor wrote: »

Make it?

Increase the amount of bitcoin on the market.

Lex Luthor

There can only ever be a maximum of 21,000,000 bitcoin ever, but that will never happen as a few million have been lost, etc

People will continue to mine them but it will be many decades before they have them all in supply so in reality by end of this century there will probably only be a circulating supply of 14-15m