Nigga just man-splained and STILL didnt answer the question at hand.
Im going to assume everyone in this thread knows the basics. I want you bitcoin pros/ponzi-scheme victims to acknowledge my simple statement.
Jay-Z and Jack Dorsey criticized for launching ‘Bitcoin Academy’ in Marcy Projects.
- Thread starter Joe Grind
- Start date
Im going to assume everyone in this thread knows the basics. I want you bitcoin pros/ponzi-scheme victims to acknowledge my simple statement.
Nobody everybody in Marcy has money
Exactly...poor people are more financial literate because they have to be. They do more with less Richer people spend because they can.
This the problem tho..people use financial literacy as the reason black people are poor and not the real causes
No, they have food stamps. Muthafuckas ate better than most during Covid.
Oh shit welp guess they aren't poor then right? All they need is this crypto knowledge and they will be ok
I actually had to make it thru the crypto-bro babble. You actually did respond, but lied. TRADING for crypto is regulated by the SEC. But no one regulates the day-to-day operations, which is why it is rife with theft and hackings.
The same type of idiots who say crypto is a scam. Unfortunately, I didn't have the privilege of surrounding myself with people who spent their time on the net pretending to be a doctor.
If you don't understand something and you don't know anyone who made any meaningful income from something, you aren't likely to have a positive view of it. You may even view these things as scams.
"Crypto is a speculative currency play backed by nothing and regulated by no one."
"Do you crypto bros disagree with any part of my statement? "
Everyone doesn't know the basics including yourself. Not once did you mention the network the actual token is part of. The technology is the big deal, not the token. You have DLT platforms that don't even have a native token (like r3 corda). I disagree with your regulated by no one statement because it's regulated by the SEC and CFTC. Of course crypto is speculative like any other investment. When you invest in the stock market you are speculating that the company will be successful and the price of the stock will rise. I don't think you really understand what crypto is because you're focused on "currency" and not the technology. When it comes to BTC, it does have elements of a ponzi because it really has no utility and only increases in value when people buy it.
You said you they don't know where they're getting their next meal from just because they live in the projects. I was only addressing that.
And I don't see a problem with what Jay Z is doing. Black people complain about everything that gets done for them, no matter what it is.
Maybe you've never met anyone with ambition. I personally know people who work in finance who became interested in stocks and took any bullshit job to save and start investing. They made a way. They are doing very well now.
Y'all keep getting stuck on the bitcoin part, when it's supposed to include training in traditional investing methods as well.
And all the best Union jobs probably have good 401(k) as well. Wouldn't it be nice know how to interpret the statements and at least know the right questions to ask the plan advisor?
I see it like this people will be getting knowledge, some may or may not have the money to jump in but they will have the knowledge of how it works when they can. Look most crypto investor have no real knowledge when they 1st start investing they learn as they go which can be a expensive lesson. Truth be told Cac's love when we don't understand financials cause it makes it easier for them to scam us. If you study like I did the savings and loan crisis and the housing crisis these people targeted the people that were weak and uneducated to what they were getting into. Remember Cacs fear educated black men and women more then anything, picture a black man or woman educated on a currency that could possible take them out of being poor or middle class and passing that same knowledge on to their kids. No one knows what people have as far as disposable income people just assume and in truth just don't know.
EVERYTHING. How many ex-athletes and lottery winners go broke a few years after the bag?
How does financial literacy cause people to be poor?
It's more than just investing. Financial literacy is understanding how money works. Taxation by inflation, capital preservation, leveraging debt the right way, assets, liabilities, etc. So much to it. And learning about bitcoin, WHY it was created, and the problems it can solve helps point people in the right direction. They don't ever have to buy it. Could be a gateway into them going to get a job at Amazon, grinding for 2 years, and getting an FHA loan for a duplex.
Capitalism is here. Debt-based financial system is here. Folks can either learn the fucking game or hope for the Soviet Union part 2. Yeah, people need jobs and better housing but even those with jobs and better housing are struggling these days because of not having financial literacy. Do you realize how many people are a few paychecks from ruin?
I didn't mean to pick on doctors and dentists. It's just they are so highly educated, make a lot of money, and still tend not to know shit about all that money they make. Most Americans are financially illiterate.
Most Americans are financially illiterate. You know they don't teach about money in schools. College graduates who don't take finance tend not to know shit. Go talk to some of them. They might be fit to run something someone else built and cash a check, but that's it.
I know you watch these politicians. You see how they talk to the American people(which is still mostly white)? They talk to the creatures like they don't know shit about money and get away with shit because Americans don't.
And pinching pennies isn't financial literacy man. That's the type of shit that causes people in the middle class to fail because they lose to inflation.
I didn't say it causes people to be poor lol. It puts the blame and assumption that people are poor because they aren't financially literate when that is not the case
That's all great but how is teaching Bitcoin in the projects going to help poor people. That's all I'm asking. It's a data grab from poor people so Dorsey and company can turn it into billions. It's not black liberation.
I just explained. It's a gateway.
My fault misunderstood your point.
It's a gateway for Dorsey and Jay z to exploit poor black people and make billions. You can't possibly think it's a gateway to uplift people out of poverty lol. You don't need Bitcoin classes to go work at Amazon. Black people work their now lol
Who said it is black liberation?
How is offering free classes on bitcoin and finance bad? If they are interested, they'll take it. If not, they won't.
It's exploitation...it's about data mining and Dorsey and Jay z getting more rich. It's marketed as unregulated and a work around the federal government's monetary system when it really isn't. Go look at the website. The person teaching it is saying he's a Bitcoin billionaire when he isn't and it's all about getting poor people to hop on this "get rich" quick scheme.
this is the give "a man a fish and teach a man to fish" scenario - he is teaching people to fish - Now if this was a finance class and you can learn to be a stockbroker and get a license - everyone would be praising Jay Z but Bitcoin is financed also and you don't need a license, you don't need SEC to approve you - you just need the knowledge to know what you are doing and that is what he is teaching people.
This is the future and we need to embrace it.
Speaking of which:
Md. school system won’t require financial literacy class - WTOP News
Public schools in Montgomery County, Maryland, won’t require students to complete a financial literacy course to graduate, but the Board of Education has agreed to find more ways to make the topic available to students as an elective.
wtop.com
False. You just keep proving you're a rookie when it comes to crypto, that's all. Humble yourself and learn something. The SEC regulates securities offerings which it claims most cryptos are. There isn't any settled law at this point regarding the nature of cryptos in terms of whether all cryptos are securities since some have been deemed commodities . There's actually an extremely important court case going on right now that will provide some clarity. There is also legislation recently introduced in congress that will provide clarity if passed. The CFTC regulates commodities trading which it claims BTC and ETH are so the SEC will have no authority to regulate those. The SEC's authority to regulate exchanges is only valid if the tokens on the platform are deemed securities. I've been heavily involved with crypto daily for 5 years and I guarantee I know more about anything related to it than you do.
Last edited:
How much data do you think they are going to get from 4k people in Marcy? If they are as poor as you claim then what value does the data they mine even have?
You may want to reword this statement brother. All of these groups said they were helping black people as well: White slavers paying Africans for slaves, Public health officials in Tuskegee, AL, The People's Temple and Jim Jones, Russell Simmons and his Rush Card, Umar Johnson and his school, Jay Morrison and TREF, Tariq and his museum, Boyce Watkins and his courses, Zaza Ali and her retreats, etc. And before you say you're referring to people that are actually helping and not scamming, all of these groups started out sounding legit and were later revealed to be on some fuck shit. There's no reason, at this point, to think this bit coin literacy course won't go the same way.
Jesus man. I used the Amazon example as a way to leverage the job to get 2 years worth of tax returns and a downpayment to get an FHA loan for a duplex. A rental property. Yeah, people work there now, but after learning some financial literacy, they might have a different endgame for that job.
It don't fucking matter if Dorsey and Jay are going to make money. Did it matter when coinbase raped me with fees? Does it matter when websites I learn from tried to exploit me with ads and make money? Does it matter that books I bought on subjects made their authors money? No. It just matters that I used the opportunities to my advantage. That's life. As long as they aren't forced to buy shit or hand over sensitive info, why complain?
Like I said, you can't possibly have a fundamental understanding of bitcoin and what it represents with your attitude. Don't even have to ever invest in it to have it open your eyes to the game.
? There physical poverty doesn't mean their data isn't worth millions. It's fucking data lol. Again if you think they are doing this out of the kindness out of their heart and there is nothing in it for them I don't know what to tell you
I'm complaining because it's not going to help poor people out of poverty like jobs,better housing or CDL training like someone else mentioned earlier. Selling dreams to poor people it's the oldest game in the book. This isn't anything new
Where does it say the program or bitcoin in general is going to lift you out of poverty? You're putting you own biases on to this.
"Education is power. Shawn “JAY-Z” Carter and Jack Dorsey are funding The Bitcoin Academy, a program for residents of Marcy Houses, in Brooklyn, New York, where Jay grew up. Designed in collaboration with Crypto Blockchain Plug and Black Bitcoin Billionaire, this program aims to provide education, and empower the community with knowledge.
This program aims to provide education, empower the community with knowledge, and get rid of some of the barriers so that residents can learn more about Bitcoin specifically and finance in general."
Exactly what dreams are being sold?
I see both sides of the argument, so I have no dog in the fight, but if I had to be decisive I'd lean on the side that this could do more good than harm - gaining the knowledge/awareness doesn't mean they'll invest, but it will help them make an educated decision of doing so or not... I'd be interesting in seeing a curriculum before I finalize my opinion...
I will say tho, it's pretty funny to see that at the beginning of this thread some people were bashing the program idea, but now here we are on page 5, and some of those same people are now arguing with each other...
I will say tho, it's pretty funny to see that at the beginning of this thread some people were bashing the program idea, but now here we are on page 5, and some of those same people are now arguing with each other...
Similar threads
