Finance is extremely regulated even if there are shenanigans, Crypto is just an excuse to do finance without oversight, which means it's mostly shady.
Every attempt to peel away the onion layer reveals mass problems.
It's like saying 'we have no hard proof that all this Mafia gangs revenue came from illegal activity!'.
What I'm saying is, the point of crypto is hustle, there is no real economy, and the players are all shady as can be.
Literally nobody knows where the Binance guy even is!
Why would the Binance guy want to hide from global authorities?
Regular bank CEO's don't.
It's mafia-adjacent the whole way down, with a lot of small dupes and kids playing with some amount of money.
There is no 'there there' in the value creating sense that we might want to see.
If you told me BTC was 95% regular people using it for business and 5% shady, I'd say we need to work on that problem. But it's only 5% 'useful' and the rest is just layers of scam and fraud.
We need to dump crypto, and if we want to try that experiment again - because I think there might be value there - we can give it a new name and keep it clean from the start.
Every attempt to peel away the onion layer reveals mass problems.
It's like saying 'we have no hard proof that all this Mafia gangs revenue came from illegal activity!'.
What I'm saying is, the point of crypto is hustle, there is no real economy, and the players are all shady as can be.
Literally nobody knows where the Binance guy even is!
Why would the Binance guy want to hide from global authorities?
Regular bank CEO's don't.
It's mafia-adjacent the whole way down, with a lot of small dupes and kids playing with some amount of money.
There is no 'there there' in the value creating sense that we might want to see.
If you told me BTC was 95% regular people using it for business and 5% shady, I'd say we need to work on that problem. But it's only 5% 'useful' and the rest is just layers of scam and fraud.
We need to dump crypto, and if we want to try that experiment again - because I think there might be value there - we can give it a new name and keep it clean from the start.