Discuss...
https://www.currentaffairs.org/2021/04/ ... iant-fraud“selling it as a revolution” is a hugely important part of why cryptocurrency is succeeding. But as is generally the case when someone is trying to sell you something, the whole thing should seem extremely fishy. In fact, much of the cryptocurrency pitch is worse than fishy. It’s downright fraudulent, promising people benefits that they will not get and trying to trick them into believing in and spreading something that will not do them any good. When you examine the actual arguments made for using cryptocurrencies as currency, rather than just being wowed by the complex underlying system and words like “autonomy,” “global,” and “seamless,” the case for their use by most people collapses utterly. Many believe in it because they have swallowed libertarian dogmas that do not reflect how the world actually works.
Yet billions are thrown at it is at least on the radar screen of traditional/institutional investors.
