Quote:
Originally Posted by Michael D
I think certain people confused bitcoin for an investment (unintentionally) and ruined it as a currency.
A more cynical take... The entire point of cryptocurrency is deregulation. If I were part of the global financial hegemony and wanted to prevent a decentralized exchange/market the first thing I'd do is tie bitcoin to a fiat, F with it, and cause your average investor to run away forever after stupidly losing a bunch of money.
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But there have always been products that are 'new' which are not regulated which can exploit the global financial hegemony for insiders / first movers to make a lot of money until broader adoption caused a meltdown which leads to regulation. There is nothing new here. And I do not see the use case as a currency.