For a smart fellow, the guy seems like a bit of an idiot. Also, he knows that cryptocurrency is a scam and used by the elite to funnel, steal and launder money and he's dealing with shady people. Every time I hear news about crypto it's always bad news. There are two kinds of people dealing in crypto. Poor idiots trying to get into it wasting electricity farming it and getting robbed or rich people funneling money through it to prop it up only to crash it taking the bottom-feeders money. It's a scam and a tool for theft. The world will never let it be anything more than a front. There's too many people fooled into thinking it's the future and free and efficient when really it's corrupt, unstable and poorly managed. This guy is one of the predators.
I worked in crypto for a long time. I can tell you, you're only half correct. While crypto in its current form is a scam for sure; mostly due to the heavy manipulation of most of them. It has some great long term properties and ideas that can really propel the finance world to new heights. We just need for the less greedy and more focused developers to get involved than the current group of people who are too profit focused. Bitcoin will eventually be a tool that helps to end slavery and censorship worldwide. The modern banking and finance system is a tool that propagates socialism far more than capitalism.
The only ones that can really use or benefit from it are the wealthy. It's always going to be corrupt because it isn't regulated and made available to the public. And why should it be? We already have currency. Maybe we should be focusing on fixing public currency instead of trying to convince people to use the elite club's laundering service.
I agree with you, under the assumption that better privacy is added to the blockchains. As it is, BTC is easily traceable with forensic software and even open source stuff. This means the gov is just mildly inconvenienced when following the money. True privacy coins will restore crypto to what it used to be. Assuming they aren't banned at some point.
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