[colesantiago]

“We should be increasingly skeptical of the claim that crypto can't do better than the existing system.”

This is a fact because you can already do that with regulated and safe banking apps such as Transferwise, Revolut, PayPal, Zelle, Venmo, CashApp, MoneyGram, Western Union, MPesa etc.

Using a blockchain for this stuff is already cumbersome (which network?), remember long silly address numbers, incurs additional fees, rapidly fluctuates in price quotes, and you can’t get your money back if you’ve been scammed or you send your ‘cryptos’ to the wrong wallet.

This does not scream to me the future of finance, instead it is an unregulated ‘wildcat-banking-esque’ speculative scam that makes it easy to lose your money very quickly.

How is that better than what we already have?