| Because if you actually look at what cryptocurrency is being used for, it’s overwhelmingly: - Scams
- Risky financial structures that we regulated out of existence because they were risky and unregulated
- Money laundering If there are real applications of the technology, they would’ve popped up by now. Just look at the whole space of cryptocurrency lending. Regulations exist for good reason, we have stress tests https://www.federalreserve.gov/publications/large-bank-capit..., consumer protections, all kinds of safeguard so when you put money in a bank account you don’t have to worry that somebody’s gonna run with it. Web 3.0 is a buzzword-filled collective hallucination. People keep shouting the buzzwords, but still nobody knows what it’s supposed to mean in any concrete way. NFTs are scams and still haven’t found a real use case that’s not a ponzi, crypto lending is 2008 capital structures but turned up to 11, DAOs are useless because courts and corporate governance are things that exists, I can go on and on. If you have a concrete proposal of how this magical Web 3.0 future is supposed to be better I’m all ears, but where I’m standing it’s all ponzi, scams, shaky capital structuring, and criminal enterprises. |
You are losing 10-15% a year from inflation. Nobody has to literally steal it when they can dilute it