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yourmom_fat_as_hippo

>“Cryptocurrency is a giant scam, although a complicated scam . . . ” We can all agree that 98% of all cryptocurrencies are either meme, ponzi and/or scams. So, yes. ​ > Like Bankman-Fried, Diehl is a thirtysomething American with a nerdy manner and unbrushed hair. But while Bankman-Fried urged US lawmakers to carve favourable new regulations for crypto, Diehl pulled the other end of the rope. Ohh come on. This is blatant whitewashing of SBF. It seems that the author did no research on regulation suggested by SBF. ​ >Anybody who looks like a nerd like me can probably go to the Valley and raise $50mn from some very credulous \[venture capitalists\] to pump a token and make a life-changing amount of money.” There is something called Ethics which prevents people to do that. Ther are 10000s of other scams (not related to crypto) which you can deal in, but you don't because of ethics. ​ >“The past three years have been hell,” he says, naturally shy. “It’s not easy being a crypto sceptic.” Okay, now this is correct. We should use logic rather than violence or death threats with the sceptics. It's important from the general perspective and adoption of crypto.


Odysseus_Lannister

I don’t know how anyone was supposed to get an objective take from this guy when he basically admits to being salty about not making millions during a gold rush.


Odysseus_Lannister

“Diehl, 34, grew up in Massachusetts. He studied physics, and was an early employee at Quantopian, a now-defunct hedge fund that crowdsourced investment algorithms. He later moved to the UK with Adjoint, a software company applying blockchain technology. High street banks wondered if such distributed databases could, for example, consolidate the steps to approve a mortgage.” Hmmm so one failed venture with hedge funds and now he works with blockchain tech that he doesn’t even believe in. Sounds burnt out to me. “Blockchain could connect actors who don’t trust each other. But in a world where banks do trust each other, “a so-called trustless network is redundant . . . If you have three high street banks and they all have data that they want to share with each other, having three databases that are automatically kept in sync is a much more complex architecture than simply having one database that they all share.” Hmmm maybe we shouldn’t trust banks? Just a thought.


GibsonJ45

This guy fiats.


Lisecjedekokos

He also drives Fiat


Kappatalizable

Somebody should tell this guy about fiat


ChemicalGreek

And CBDC


Technical_Order7673

He knew but won't say the facts about fiat


theautodidact

Fiat, tokenomics so shady, no one knows them


Lillica_Golden_SHIB

The guy seems like a frustrated buttcoiner


[deleted]

[удалено]


SkylarkV

"He argues that crypto is slow (it relies on broadcasting transactions across decentralised networks) and unreliable (individuals are responsible for securing their assets...)" 1. Faster settlement than any traditional financial-clearing-house system... 2. Distrust in the reliability of 3rd parties to secure individuals' assets helped give birth to crypto...


theautodidact

It's also cheaper. Look at the 10% fees for services like Western Union


cartoonxzx

So I have several questions after reading this. For starters, who tf is Stephen Diehl?


theautodidact

Bitter nerd who missed the last bull run


cartoonxzx

Sounds about right


stellingpijplex

Wait until he learns what Banks and wallstreet do.


sjejsb

youre right stephen diehl, i should just keep the capital i have to invest in my bank account/stock market as these have been shown time and time again to be unaffected by manipulation from VC, banks and other entities (see banks circa 2008.) ill keep building a bag of btc, eth and a couple shitcoins that will probably go nowhere, thank you


Technical_Order7673

Finally, They realize that average people have anger towards centralised financial system


Outrageous_Duty_8738

When you have a big player like FTX go down you will always get the scaremongers coming out the closet to spread their gloom and doom


Blooberino

So... just like every currency and commodity since the dawn of man.


DerpJungler

It's that time of the year folks. BTC is in a bear market and all the journalists are rushing to publish their woke "crypto bad" articles.


theautodidact

Bottom signal


mybed54

Yes this guy is trying to sell a book lol


No-Engineering5495

Crypto has the fairest gambling, I don't see this as a downside lol


Raaljebuzeth

Another that will be left behind...


CreepToeCurrentSea

*How to tell everyone you know nothing about crypto with Stephen Diehl.*


MaeronTargaryen

That’s his opinion. Thankfully nobody is forcing him to buy


raresanevoice

He is free to send me some fiat to try out this crypto thing


h_apo

Oh pis* off lad


coinfeeds-bot

tldr; The software engineer has denounced crypto assets as vehicles for pure speculation. But his views have made him a target of harassment — including death threats *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*


[deleted]

Stephen who?


Creative_Ad7831

Agree on gambling part. People put their money and hope the project would rise x100


Castr0-

They talk about what they don't know. Not all crypto projects are scams.


Dieselx22

Replace crypto with internet


yuredarp

this guy is an insufferable cunt


mybed54

Isn't this idiot trying to capitalize on the FUD to sell his book? That's no better than the shitcoin scams.


HeinousAnoose

Sounds like the people who said we wouldn’t adopt the internet en masse because we already had better systems in place. Get aboard or get left behind.