[bluefone]

I don't see any wrong in what he says. So, crypto is designed for a future where all the institutional banking fails and where political borders don't exist and where no transparency is required. All that it offers is less fee and speed. First of all such future dreamed by the cypto pundits doesn't exist. And many people don't mind paying a little commission to a bank doing my payment, so that they can call the bank and hold it accountable. All this is taken away in the crypto model just for the sake of avoiding a small fee and delay. How many times does an average person transacts across border for which their fiat currency doesn't work or too difficult to use? crypto has too little to offer at the cost of enabling crime and lack of transparency. Why all this is so difficult to understand for these crypto geniuses?

[Geee]

You have missed the point of Bitcoin. It's not just a payment network, it's a completely new type of money. It can't be inflated, it can't be taken away from you, and no one can stop anyone from using it. It's the opposite of our current, inflationary and centrally controlled money. Bitcoin can take away these authoritarian and repressive powers from governments and central banks.

It's not really possible to understand Bitcoin if you don't know how broken our current money is and how much damage it has caused.

This website collects stats from the beginning of purely fiat monetary system. https://wtfhappenedin1971.com

[moistly]

> it can't be taken away from you

Eh? Almost every single day we see a HN headline where a rugpull, hack, or other scam has taken vast amounts of bitcoin away from owners.

[Geee]

Not bitcoin. You are talking about altcoins or "cryptos" which are all scams.

Obviously bitcoin is not resistant to your own stupidity. If you send your bitcoin to a scammer, it's your own fault. However, if you're careful and manage your security well, it is impossible to confiscate.