I don't see cryptocurrencies as something to be killed. I think the vast majority of them are illogical, based on wishful thinking and severe ignorance or outright scams. People will point out one among twenty thousand without realizing that the exception proves the rule.
Yeah sure keep speculating on your "digital gold" I don't care. Unlike holding dollars as demand deposits or cash, you can't hijack the economy. You are accountable for the risks you take but that doesn't mean anyone is going to use Bitcoin or Ethereum to pay their groceries, especially since so many of the crypto credit card companies love operating in jurisdictions where they are completely unaware about the tax implications of their product. What a well thought out business model...
Even though Europe/EU is embracing a regulatory framework for cryptocurrencies and making it easier to do business, crypto exchanges operate in regulatory safe havens, engage in shady practices or get hacked and lose your money.
> People will point out one among twenty thousand without realizing that the exception proves the rule.
This argument doesn't hold well. Creating huge amounts of value is expected to be the exception rather than the rule - one of the powerful mechanisms at play here is this is an unusually free market where failure is cheap and all the money clusters to success.
It is reasonable to ignore the thousands of failures. They failed because they were easy to ignore.
>> this is an unusually free market where failure is cheap [public quick]
The speed and amount of effort to innovate, by basically every demographic of persons, is breathtaking and exciting. Due to low startup costs (lack of gatekeepers), most will fail. That is okay, because the builders are not playing with super powder.
Yeah sure keep speculating on your "digital gold" I don't care. Unlike holding dollars as demand deposits or cash, you can't hijack the economy. You are accountable for the risks you take but that doesn't mean anyone is going to use Bitcoin or Ethereum to pay their groceries, especially since so many of the crypto credit card companies love operating in jurisdictions where they are completely unaware about the tax implications of their product. What a well thought out business model...
Even though Europe/EU is embracing a regulatory framework for cryptocurrencies and making it easier to do business, crypto exchanges operate in regulatory safe havens, engage in shady practices or get hacked and lose your money.