this post was submitted on 24 Apr 2025
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Wait until you learn about tradfi
https://www.theguardian.com/news/2022/feb/20/credit-suisse-secrets-leak-unmasks-criminals-fraudsters-corrupt-politicians
EDIT: to answer slightly more seriously, crypto is just a tool. The great thing about crypto is that anybody can use it. The bad thing about crypto is that anybody can use it. Yes, there's lots of dogshit out there (by lots I mean like 95% or more). But the big projects, BTC, ETH, defi stuff like AAVE, Compound, etc are very useful tools. I don't think people realize how exploitative the banking and finance industry really are, and crypto bypasses most of that.
This whataboutism is probably the most used fallacy within the crypto"currency" sphere. If A and B cause cancer, and A was first, it doesn't follow that B is less malignant.
Quoted from my Crypto Cult Science essay linked in the original post:
You're free to not use them, if you want. But me and many others are going to appreciate that these alternatives that don't rely on centralised cervices exist, that won't track credit scores, personal information, or use tech companies with privacy and freedom concerns.
Talking about logical fallacies while summarily hand-waving away all of crypto is pretty interesting.
I guess some random HN user is smarter than the research arms of these companies who are all building on and utilizing crypto: https://ethereumadoption.com/
😂
Edit: stablecoins have already reached parity with traditional payment networks
And yea, like the other user said, just don't use it! Nobody will be mad that you don't use it, or care. I don't have venmo, so I don't use it. I don't get mad when somebody offers it. 🤷♀️
List of fallacies in the aforementioned statement:
Venmo is not a multi-level marketing pyramid scheme, all crypto"currencies" are^["The only example of cryptocurrency not being a misnomer is TU Delft's blockchain euro [15]. But if it is practical remains to be seen since Africa has superior payment alternatives that don't require blockchain at all—which I address further down." —Crypto Cult Science].
I'm just blocking you now. You're just trolling