When everybody jumps in this thread to tear him apart, please disclose your crypto holdings while you're at it.
So many formerly-good people have been corrupted by crypto greed.
So many formerly-good people have been corrupted by crypto greed.
Unless you want to use it for economic endeavors of course, but even then you don’t really need to permanently hold that much.
If you’re holding it because you think other people think the technology will make other people think (…) it’ll eventually be used for real payments increasing its price: That’s speculation.
It’s also a scam to launder money, destroy the environment, and gateway the youth into losing their holdings through asset trading. I hope the US follows China’s example and bans it outright.
Who do you think, in authoritarian countries, has most of the money?
The poor Venezuelans saving with Bitcoin benefit exists, but let’s call a spade a spade. It’s principally used for graft and sanctions/tax evasion by these countries’ elites.
It's quite a leap to say crypto is "principally used" for that. Bitcoin is seeing adoption for remittance payments in the poorest countries in our world.
Crypto is also allowing people to donate to activists in countries that deem these people "extremist groups" [0]
[0] https://www.reuters.com/world/europe/navalny-ally-urges-dono...
Not broadly. But within authoritarian countries, almost certainly yes.
You need to have wealth before losing it to becomes a problem. (For an analogy, look up how hard cash is distributed and used in authoritarian regimes. Hint: the poor Venezuelans have a tougher time getting U.S. dollars, too.)
Edit: and of course this question is being downvoted as well.
I've upvoted it.