I personally think there could be practical uses for crypto, such as getting around banking monopolies, but it’s poorly secured at the moment, and the main usecase being pushed by its users are “get rich quick” schemes often involving fraud.
In a way crypto has fulfilled the promise of “banking the unbanked”… Its just that the main group of ”unbanked” people happened to be criminals and scammers.
Its been a huge boom for scammers, before this you had to convince people to use wester union or something and convince a person they are talking to some inconvenienced soon to be oil barron, now all they do is throw up a website with tradingview charts and people will throw money at them.
I personally think there could be practical uses for crypto, such as getting around banking monopolies, but it’s poorly secured at the moment, and the main usecase being pushed by its users are “get rich quick” schemes often involving fraud.
In a way crypto has fulfilled the promise of “banking the unbanked”… Its just that the main group of ”unbanked” people happened to be criminals and scammers.
Its been a huge boom for scammers, before this you had to convince people to use wester union or something and convince a person they are talking to some inconvenienced soon to be oil barron, now all they do is throw up a website with tradingview charts and people will throw money at them.