this post was submitted on 22 Apr 2025
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privacy
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Fundamentally, cryptocurrency is a scam.
The idea that anyone can make up their own unregistered securities and start selling them to naive investors is nothing more than a system for encouraging fraud.
Every single purpose given for the existence of cryptocurrency is contradicted by their actual implementation. They do not enable untracable transactions and so are of no utility for the underground economy. They do not enable un-banked consumers to safely store and exchange value as they are risky and volatile. They're more environmentally damaging, less secure, and much harder to use than cash or credit cards.
Who even are they for other than weird tech bros who have made crypto their entire personality?