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by colesantiago 1215 days ago
Please tell that to the people who invested all their life savings in FTX and LUNA.

Most of what you have suggested is already done by the existing financial system.

Crypto is ALL a complete scam.

1 comments

Please tell that to the people who invested in their local currencies in Argentina, Lebanon, Nigeria and more.

Most ot what you write is just a misinformation.

Crypto is not all scam.

> Please tell that to the people who invested in their local currencies in Argentina, Lebanon, Nigeria and more.

Most people use crypto not to send money anyway so it has completely failed as a means of payment and as any legitimate viable use case.

To suggest that people in those countries should use a much worse solution akin to a ponzi or pyramid scheme so that they can lose even more money due to scams, ransomware and volatility is beyond laughable.

Crypto is a scam, I don't think we need more rugpulls, exchange meltdowns to understand this basic fact.

When I buy crypto I am buying a signed chain of custody of some quantity of imaginary unit of account on a distributed ledger. That's it. If you think it is something more you're only scamming yourself.
> When I buy crypto I am buying a signed chain of custody of some quantity of imaginary unit of account on a distributed ledger.

So speculation. Got it.