I was briefly curious about crypto and heard a winkletwin explaining his crypto revelation on a podcast and it clicked: “oh, I get it— it’s a scam to make insecure but wealthy people fear that if they don’t understand it and aggressively embrace it, everybody will think they are too dumb to get it.”
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I thought all the LinkedIn Tech crowd and McKinsey consulting groups were embracing it for being “disruptive”, but really, they had no idea what they were talking about.
After I learned more, I realized it was inefficient and useless
Then they'd explain a ledger which I already have, which is already insanely secure & uses a fraction of the energy of what they are selling
Drugs & Dumb, only markets for it
Instead we use them for Ponzi coins
1) public access
2) no central authority
Most of the reasons we wouldn't want a central auth are the auth going out of business or sharing the info across competing systems. It's not common!
1. a novel approach to decentralization with niche applications (at best)
2. An excess liquidity release valve
3. A scam (worst case, and what 99% of the crypto market is really)