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Thoughts on Cryptocurrency?
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this post was submitted on 19 Mar 2024
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Privacy
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The initial idea and the aspect of "fuck the banks" intrigued me. Of course now the space is filled with scams and weird crypto dudes (srsly, why so many dudes?) and I have lost faith that the money schemes of the world will ever change.
There's lots of people who use the dollar and other currencies I don't like. But I still use the currency. Bitcoin has faithfully kept its fiscal policies and promises for 15 years. It's money whose supply can't be diluted through inflation. You can be your own bank. That has never changed. Whatever it originally promised, it's still doing.
Being your own bank is 99% of the problems crypto runs into. It turns out being your own bank is hard and makes most people into marks. This is of course, by design, and most of the space, the vast majority of the space, is scams.
Also bitcoin has kept its promises just as much as USD has. That's not really a useful metric.