Yes, we all know what the point of crypto was. Yes we all know what is actually happening, the only question left is why the hell are we still doing it?
dude what. no. the majority of people are "here" just wanting the numbers go up in the closed-source centralized database that their trusted banker runs.
there are small group of people that actually care about decentralization and open source access to money, that number is maybe 0,01% of the total "crypto" users.
If liquidity was available without ridiculous yields promised to lenders, we wouldn't need those centralized exchanges.
The sole reason people are trading on Binance is because of the 3bps transaction fee, versus 30bps on decentralized exchanges.
Frankly, the government isn't a very respectable institution and it is quite a remarkable era that now, after millennia of thugs taking people's stuff, there is suddenly an asset class that can't just be seized. That comes with a long laundry list of problems. It also comes with uncertain consequences.
> ...public recorded transactions...
Don't have to do this if you don't want to. So-called privacycoins exist.
Speak for yourself. I don't touch that stuff with a 10-foot pole.
One of the most difficult things to do is explain to a cult member that they're a cult member. Similar to participants in the great crypto ponzi scheme.