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Deminpenn

(17,663 posts)

30. This story from the new Yorker might help

Reply to milestogo (Original post)

Mon Jul 6, 2026, 02:00 PM

Monday

https://www.newyorker.com/news/the-financial-page/what-happens-when-an-infinite-money-machine-unravels

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milestogo

34 replies

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Explain cryptocurrency to me like I am from another planet. [View all] milestogo Monday OP

The dealer tricks the mark into betting money Torchlight Monday #1

So its a grift? milestogo Monday #2

yep. rampartd Monday #11

If you were from another planet flvegan Monday #3

😍 milestogo Monday #4

Wish I could rec more than once. So good. Prairie_Seagull Monday #34

think of a casino chip that's in the form of a piece of software. legallyblondeNYC Monday #5

That's after the creation of the cryptocurrency. House of Roberts Monday #7

not nothing rampartd Monday #12

good questions legallyblondeNYC Monday #20

I simplify that to magic numbers. hunter Monday #14

ghotI' pegh dweller Monday #6

Is that Klingon? surfered Monday #9

AI KLINGON dweller Monday #10

😁 surfered Monday #15

I LOVE this explanation by John Oliver (2018) vapor2 Monday #8

An easy way for crooks to launder money gab13by13 Monday #13

Not correct, most crypto is easier to trace than cash JCMach1 Monday #17

Can you provide a link to an accurate, unbiased, easy to understand explanation? RandomNumbers Monday #27

It is pretty complicated, I know what I do know JCMach1 Monday #33

If you're looking for an asshole to abduct and probe, follow the meme coins struggle4progress Monday #16

Crypto explained in 24 seconds. ImNotGod Monday #18

It could have been dog shit. milestogo Monday #21

Lol BlueWaveNeverEnd Monday #22

I don't do tweets, embedded or otherwise. hunter Monday #24

Get a history book about "tulip mania of the multigraincracker Monday #19

Currency not attached to a country or institution. Value is whatever someone will pay for it BlueWaveNeverEnd Monday #23

It's like owning shares in a company that doesn't make anything. Fichefinder Monday #25

That's exactly right. David__77 Monday #26

There's a cryptocurrency cookbook for you extraterrestrials. usonian Monday #28

The thing is, after about a decade of existence it still appears worthless as a legitimate currency. Tommy Carcetti Monday #29

This story from the new Yorker might help Deminpenn Monday #30

It's a tax dodge and laundering, funded by a get rick quick scheme. OC375 Monday #31

All it is doing is creating a unit of the crypto. Jacson6 Monday #32