Gm banking is a scam and “crypto” is worse
Tick tock mfer
Discussion
GM. Btc is good
What’s weird is that I think “crypto” may actually be less of a scam. Isn’t that something.
Both horrendous dumpster fires.
Why’s that?
To me, banks have the illusion of safety via insurance and this is provably so with bailouts etc.
Crypto is more of walking a tight rope and when you fall, u dead.
Dead seems less scammy to me. Banks have been killing quietly for 100+ years but always keeping people on life support so they think they are alive; but in reality are nothing but vegetables.
Crypto is mostly the same centralized ownership, staker, cantillionaire game. It's just a new set of players making the same old mistakes of greed and ego. Using a new tech to get around fundraising laws.
However, some of them have decent ideas of what to build, after making the mistake of ego in keeping control and domination in the launch.
There are a very few projects or components that are interesting building blocks to work into a future moral and decentralized smart contract system.
Decentralized Automated Money Markets, not needing clearing houses for all trading of all types of assets, bonds, equities, tokenized anything
NFTs, not jpegs but titles, replacing government titling systems for property tracking
I like the idea of prediction markets for decentralized voting/perception/sentiment scoring.
Ultimately, though, I think government 'stable' coins are the most desirable thing in the marketplace at large and will corrupt the whole thing, as is, long before they flush out the ego and the tyrants while keeping the good ideas.
A dollar that moves globally without limits, anonymously, is the real competition to Bitcoin. People know dollars, if they can just download an app and use dollars without paying more than pennies and without doing the expensive identity stuff that a 3rd world person would find difficult... That's what 'crypto' will be about from here on out. It'll be the establishment's alternative to Bitcoin. Dollars, taking Bitcoin's thunder of cross border and open and cheap and easy...
