It marks a milestone for the once fringe industry, as it expands its power in Washington.
Archived version: https://archive.is/newest/https://www.bbc.com/news/articles/cd78lvd94zyo
Disclaimer: The article linked is from a single source with a single perspective. Make sure to cross-check information against multiple sources to get a comprehensive view on the situation.
Yay! Scams are now legal.
Ok I’ll bite. What’s a scam? Currency in general, or currency on a distributed censorship resistant immutable ledger?
Promising something and then not delivering it while stealing the money in the process. The same could be true for FIAT, the difference is that FIAT is regulated and insured, so most people would go to jail for it, while crypto is now above the law for the same.
I have no issue with crypto as a concept (e.g. Monero), it’s just that 99% of the crypto are just scams, rug pulls and fraud.
Both, but currencies are dependent on the trustworthiness of a government that can at least theoretically be held accountable by its citizenry, while crypto is dependent on the banks and whales that own almost all the crypto.
Tell me more about these trustworthy governments that can be held accountable…
Can you point to the trustworthy government in this article?
… Is the trustworthy government in the room with us right now?
Both are dependent on banks and whales. Only one is dependent on the trustworthiness of a govt tho.
Fiat doesn’t need banks and whales, their existence in our economy is a choice rather than a necessity. Fiat can operate just as well with centralized postal banking and wealth taxes.
The usd has a huge dependence on other nations accepting it, and capital being injected by wealthy nations and people. It’s backed by military might and threats for not using it as a reserve currency to trade oil.
You’re describing the concept of currency in general, “it only has value because people act like it does” applies to crypto too.
Indeed. But only one can be printed by state actors who over millennia have proven to mismanage and fail.
deleted by creator
I’m not an idiot that’s buying shit that rug pulls. It’s just dd. A lot of ppl like to gamble memecoins and shitcoins.
What problem does this solve?
