Exactly. The core of the problem is the finance industry itself, they’d be scumbags regardless of the medium of exchange. Cryptocurrencies merely give you alternative method for transactions.
For every scam someone shows me about cryptocurrencies, I could probably show 10 with fiat currency.
The main “problem” with cryptocurrency is also its main selling point: crazy swings in value. That’s not great for regular savings, but it’s basically proof that there’s no central org messing with the currency and that value is determined purely based on supply and demand, just like gold and, to a lesser extent, stocks (stocks often pay dividends and provide voting privileges). And since it’s transparent, you can see any attempts to mess with valuations, which is less true for central banks.
Exactly. The core of the problem is the finance industry itself, they’d be scumbags regardless of the medium of exchange. Cryptocurrencies merely give you alternative method for transactions.
For every scam someone shows me about cryptocurrencies, I could probably show 10 with fiat currency.
The main “problem” with cryptocurrency is also its main selling point: crazy swings in value. That’s not great for regular savings, but it’s basically proof that there’s no central org messing with the currency and that value is determined purely based on supply and demand, just like gold and, to a lesser extent, stocks (stocks often pay dividends and provide voting privileges). And since it’s transparent, you can see any attempts to mess with valuations, which is less true for central banks.