Almost the entire comments mix "crypto" with Bitcoin or "all cryptos are the same" which is factually false. Please explain how different it is in comparison, the thread is flooded with baseless claims. This is analogous to placing your money under the bed vs. in a bank vault, they're both unsafe technically, but the difference is vast.
That doesn't make them at all the same. Just a few differences:
* Crypto has not killed people, guns cause mass shootings at schools, malls, and movie theaters.
* Crypto makes certain classes of theft impossible. Guns make revenge possible, and threats possible. Guns do not make any classes of theft impossible.
* Crypto increases our civil liberties (freedom of assembly, speech), and overall safety (bank website is trustworthy). Guns decrease our confidence that our kids won't be shot at school, that we won't be attacked at a movie theater or a bar.
* If everyone has crypto we truly are safe. If you let everyone have a gun, would you feel safe? The best you can hope when that one crazy person shoots your family member is that you shoot them back, but you don't get your family member back do you? Guns don't _prevent_ crime effectively but crypto sure does. They can deter, they can administer payback, but they are generally a destructive force vs a preventative one.
There you go. Hence, the parent comment has falsified their own sentence, by making a false comparison (iPhone, Android) in the first place and by making a sweeping generalization of the whole crypto industry, just because the first one is useless. So the whole argument in their sentence is invalid.
A better comparison would be on the protocol level like Bittorrent, IPFS, etc.
Why do so many of the comments here and journalists assert that crypto and exchanges are the same thing?
Doesn't keeping coin in an exchange (as opposed to in a wallet, locally) sort of violate the ideology of crypto? Wasn't this shit invented to circumvent the banks?
I don't get it, using something meant to circumvent the banks, just to invest it in a less regulated form of a bank
Isn't to say I have a problem with crypto, but the one camp of people who shill these exchanges and the other that is saying crypto = exchanges = ponzi scheme are both wrong
It's really not. That's just the prevailing misconception around here from a group of people that seems unwilling to read anything about crypto not written by luddite griftfluencers.
He draws no distinction, and I believe that's his point.
"Reminder: cryptocurrencies are still a new and hyper-volatile asset class, and could drop to near-zero at any time. Don't put in more money than you can afford to lose. If you're trying to figure out where to store your life savings, traditional assets are still your safest bet."
He's not saying everything but the "real" cryptocurrencies. He's speaking to the industry, not just scams. Pretty clear he's including BTC, ETH, etc in his statement.
It's completely different to cRypTo though. Crypto is essentially 10,000 scams (or naive projects at best) while bitcoin is one of the most important inventions in the history of mankind.
What is “crypto”? If you hold the keys to some PoS token it’s effectively the same as holding physical fiat dollars. There is crypto and there is Bitcoin, and they are not the same thing.
The difference is that buying crypto is like buying a pet rock or a bottle of air. In fact it's less than that.. It's literally nothing. It's a greater fool market and it's certainly not currency. In addition there's companies (lenders, exchanges, issuers, etc) which build their businessesn on schemes built on schemes that you are supposed to trust which you can't because no one person understands the code or the infrastructure and systems that the code is built in. All in a totally unregulated market that can be shut down in bits and pieces or even all at once by the government. And then you have people touting it as a legitimate asset class deserving investment. And now it's all coming tumbling down.
reply