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[–]Anman 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (4 children)

I thought crypto couldn't be regulated? Untraceable? Decentralised. Independent. The next best currency form. Savior of the planet. Why would anyone need to do anything to protect it?

Oh that's right, because its bullshit.

[–]Drewski[S] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (3 children)

Whoever made all those claims to you about cryptocurrency to you was a bit naive and overenthusiastic. Most cryptocurrency isn't untraceable, unless you're using a privacy coin such as Monero. Some of it is decentralized, some of it isn't. Some of it is independent of the banking industry, but much of it is owned by big companies and investment firms.

Next best currency and savior of the planet is a bit hyperbolic, but it has been used to escape hyperinflation and confiscation, for example in Greece and Venezuela. It's also been used to support people who have been censored and deplatformed by big tech, and to move large amounts of money through borders and customs which would otherwise have been very difficult.

President Roosevelt outlawed private gold ownership in 1934. It was a very bad move for liberty and the freedom to use competing currencies. There were still people who owned it though, and it didn't make the gold disappear or lose it's value.

[–]Anman 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (2 children)

Whoever made all those claims to you about cryptocurrency to you was a bit naive and overenthusiastic.

Every one, since the dawn of high value bitcoin. Every web site, every article, every dip shit on social media and sites like this. Do not lie to me and tell me that the whole fucking internet nerd world was not going on about how awesome this shit was for years.

[–]Drewski[S] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

Then you need to temper it with some actual research. Cryptocurrency can be a great tool but it's not a silver bullet.

[–]Anman 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

When it first came out i thought the technology would be good in other uses and since then it has been applied to other things, but all of them suck and all of them still require the preexisting infrastructure AND other people, to exist. Useless.