this post was submitted on 20 May 2024
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I think there was a potential future where cryptocurrency could've actually been useful, but it was ruined by scammers, rug pullers, and of course, speculators.
I'll still hold a little bit of Monero, since it holds the most potential for being a real currency in my opinion. But otherwise, I fully agree with the sentiment.
When the Wild West was around Medicine was used as a scam too. Snake Oil salesmen aren't very nice people. But that doesn't mean medicine is a bad idea ya know?
I agree that there are a lot of snake oil sellers in the cryptographic currencies realm. But that world is basically the digital wild west at the moment to me. I too am waiting to see what happens.
All the 'advantages' to crypto seem to me to really be ways of avoiding regulation (or are only advantageous without regulation)
That may be true. To me, however, not all regulation are ethically or morally sound. I hear people in countries with corrupt governments can use these new fangled monies to avoid the regulations/sanctions put on their countries.
The example that comes to my mind was some guy in Turkey buying medicine. I guess Turkey isn't allowed to trade many countries because they government is corrupt? And this person was unable to get the medicine they needed in Turkey. Only way was to in port I guess? So they converted their local turkish currency to something the medicine maker would accept.
I can't really verify such claims but seemed like an alright "breaking of the rules".