I've just read Easy Money and then Number Go Up ... it's like built into the community that you should DYOR (do your own research) and getting scammed is like a college hazing ritual. "I guess I should have studied more" it's weird how people feel as though consumer rights and protections are no longer applicable with this ...

The OP makes it seems like they lost money by making poor trades, which so far in the history of Ethereum you could do in a very short period, but not if you held onto it for any length of time.

You're right, they could have lost it by scams or hacks. The power to instantly transact with anyone in the world is a feature, but also a risk.

If crypto takes off for actual day to day transactions I imagine there will be an intermediate layer of banks or other institutions that take on some of the risk but also take their cut.

Anarchist types are concerned about government backed crypto coins since you lose the fungibility/anonymity of physical dollars but don't get any of the freedom and separation from centralization that crypto supposedly represents.

Crypto is a scam because after Bitcoin got popular so many people just started "making" it. As of today there are over 16,500 active crypto currencies. That's fucking dumb idc who you are. The very original idea was to just have a global currency that didn't have an exchange rate. That makes more sense then whatever the hell it's turned into now. Crypto is like Pokemon cards.

The main point cryptobros are missing is that the economy is controlled by force, something you can experiece if you are sailing in the persian gulf these days.

Even at the scale of a family, my taxes are collected once a year and if I don't pay the nation comes collecting their due by force, via the law enforcement.

All these cryptomoneys have the notable bug of not being controllable by the nations controllong their economy, so come a sufficient magnitude of value transfer they will be rendered illegal very fast. You ain't getting paid with it, you ain't buying food or or mortgages with it.

You can buy drugs and killers with it though, which is nice if you are into that kind of thing.

Energy is still traded with petrol dollars, doesn't matter what crypto you try to sell. By decentralising energy production (which most oligarchs dont like) you can get away from it, there is no other way.

i mean the big crux with proof of stake is that the majority of the currency was already held by a group with aligned interests. so it's really no different than normal currencies, it's just a bit earlier in the timeline.

To me the PoS always sounds like the current system we have - the richer you are, the more power you have

Ironically cryptocurrency enabled the level of corruption we have right now that put us on a path to depression 2.0.

I fail to see the difference between “I have some special numbers” and “I have this special metal” and either way the value swings in comparison to other things. The special numbers are certainly more portable but as a revolutionary “not a fiat currency” (not your words!) it’s a bit of a stretch, no?

Crypto in isolation isn't a scam (ignoring shitcoins and memecoins).

The issue is crypto is the perfect technology to hold/launder/gamble billions to trillions in undocumented and untaxed wealth by the Epstein class.

Its also perfect technology to scam millions of desperate dipshit working class numpties with severe gamblong addictions and far-right beliefs.

We need better alternatives

Why? Modern fiat currencies do exactly what a currency needs to do.