I sometimes wonder if there's a paid US government campaign to slander crypto. Because I can't see how otherwise tech literate people can't understand the obvious upsides of such a system and keep blaming it for unrelated things.
From my point of view I rag on crypto because I’ve yet to see it produce any real world value outside of scams, frauds, and illegal activity.
Traditional finance is slow and cautious on purpose. Having to deal with each country’s laws, regulations, and individual sovereignty is very much a real thing. A platform like venmo could do instantaneous cross border payments today if it were only a technical problem. But it’s not. It’s a human problem that arises from countries governing themselves with their own banking and finance laws.
Now, if your argument is that we should ditch countries sovereignty and ignore laws to make finance quicker, easier, and more private; then that’s argument I can understand. I don’t agree with that argument at all, but if that’s an opinion of someone I can see why an anarchistic point of view could resonate.
How many burritos did you get at 7/11 via BTC payments? I bought a car during COVID -- there weren't any places for me to pay for it with BTC. My mom didn't, and won't, use it for anything.
That like 5 dudes in San Fran bought or sold a house with it is really just exceptions proving the rule.
Are you taking the view that all laws are just? If not, then you must admit that crypto has some value where it helps to route around unjust laws (e.g. many people on this site consider the war on drugs unjust and ineffective).
IMO it's absolutely not a valid path forward to have citizens selectively choose to ignore/evade certain laws that they personally deem unjust
Crypto is a joke in search of a problem that has attracted a cult of personality ("obviously detractors are just the US government!")
In its entire lifespan the uses of crypto (by and large) I've seen went something like
- Curiosity for edge-case nerds
- Buying drugs on Silk Road
- HOLY SHIT I SHOULD PUT MY RETIREMENT IN THIS I'LL BE A BILLIONAIRE!
- Buying ugly monkey jpegs
This is ignoring all the absolutely monumental abuse of the entire sphere it generated and just trying to name the major "uses" over the last decade-plus
- getting fleeced, and watching the exchanges burn down or get indicted