Fraud is a tiny sliver and it would be unfair to judge crypto on that alone. There's also ransomware, extortion, payments for drugs and theft by North Korea hackers.
You missed arms dealing, human trafficking and sanctions avoidance, but then there seems to be a lot of cryptobros who would think those are features not bugs.
> there seems to be a lot of cryptobros who would think those are features not bugs.
That's an unfair generalization of a completely normal group of people who just want to own islands where age of consent doesn't exist.
Touche! They have gotten so innovative with it
But what about theft?
Clearly there are way too many bad actors now which makes it seem like a fraud to anyone from the outside
A system that enables a proliferation of fraudsters _might_ have an inherent flaw that needs addressing.
As if the banking system is any better. How can any legitimate payment system which has no cryptographic operations, is highly centralized, where the money can be printed out of thin air and way too many other reasons, be taken seriously?
Because it works, and we've developed massive institutions (the federal reserve, FDIC, SWIFT, credit rating agencies, and other financial market utilities) to keep it working in a way that benefits the vast majority of people that use money
I'm so glad to witness the evolution from "Revolutionize finance" to "No worse than banking most of the time, right?"
Somehow 99.999% of the world's economy takes place upon it. Is all economic activity from the advent of banks to now not to be taken seriously?
You've essentially just backed up the quote from your first post with this comment.