| I had a similar experience and lost I think like one coin to mtgox - thinking nothing of it, it’s on a hard drive in a landfill somewhere. I think more crucially though is that crypto people just have absolutely zero understanding of the concept of money in a political sense. Money is not real - it’s a social experience - and the fact is monetary sovereignty is by far the most important thing for any state to maintain. If bitcoin or any other of the cryptocurrencies were actually useful, they would be immediately outlawed because they would subvert the control the state has over economics Even if they didn’t or couldn’t make it illegal, they would make it dollar parity, and then tax it such that it just gets absorbed into the local financial system Fully realized cryptocurrency would destabilize the entire economic system of intermediaries and that’s entirely the purpose of it - per the white paper So anybody who has an undergraduate or masters degree in economics (me) or rather somebody who had a holistic view of economics in the political and monetary sense - immediately understood that there was a limit to how far this could go before state intervention The reality is, it never actually took off as a medium of exchange - and so never challenged the domination of the US dollar or any other reserve currency. That itself has proof that it doesn’t actually have the social momentum necessary to do what it intended to do. |