Because it has the sexy feel of gambling. It’s new and shiny and a lot don’t know shit about it.
It’s something to brag about. Something you can show off on your phone. In the app.
No one pulls up their Wells account and shows that.
It’s not fun to see stocks, bonds, mutual funds, cash
The concept is interesting to me (non-state currency!), but in practice, it seems like it would be a playground for fraudsters and money launderers and other even more evil actors
Definitely seems like its own type of affinity fraud ~ young males specifically… although I’m sure this demographic would never fess up to being bamboozled.
And practice has largely proven those things true. The main use cases for crypto have proven to be: 1) buying it with dollars for speculative purposes so that you can hopefully sell it later for more dollars, or 2) criminal enterprises (like money laundering, drug purchases, ransomware, etc…).
The throughline really starts to connect with both your reply and the comment you replied to. Both cast a thoughtful spotlight on this cultural obsession du jour of defining maleness. Mid century America proffered one masculine ideal, now everyone has one goddamn thing after another to say about it
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It’s something to brag about. Something you can show off on your phone. In the app.
No one pulls up their Wells account and shows that.
It’s not fun to see stocks, bonds, mutual funds, cash