There are plenty of issues beyond that, especially BTC and similar coins being energy inefficient, just imagine if every single transaction ran through that. It wasn’t designed to be practical.
And on the less technical side, the biggest contributor to crypto being despised by most people is the massive prevalence of scammers, from companies that pretend to help you invest (while being a ponzi scheme) to rug pulls to other scammers being attracted to it for its perceived anonymity.
Afaik there’s legitimate uses for the underlying technology, but cryptocurrency is just inferior to regular digital currency from a practical standpoint, and you either have to put up with government regulation (defeating the purpose of a currency aside from government) or put up with fraud that can’t be stopped by our governments.
the biggest contributor to crypto being despised by most people is the massive prevalence of scammers
At risk of being called a crypto bro or something (I’m really not, I learned all this shit years before everything turned into what it is), I’d like to play Devil’s advocate here for the moment and ask how that’s different from fiat currency?
USD is practically untraceable, and people are being scammed out of it constantly with no recourse.
There are plenty of issues beyond that, especially BTC and similar coins being energy inefficient, just imagine if every single transaction ran through that. It wasn’t designed to be practical.
And on the less technical side, the biggest contributor to crypto being despised by most people is the massive prevalence of scammers, from companies that pretend to help you invest (while being a ponzi scheme) to rug pulls to other scammers being attracted to it for its perceived anonymity.
Afaik there’s legitimate uses for the underlying technology, but cryptocurrency is just inferior to regular digital currency from a practical standpoint, and you either have to put up with government regulation (defeating the purpose of a currency aside from government) or put up with fraud that can’t be stopped by our governments.
Bitcoin energy use doesn’t scale with the number of transactions but based upon the competition for mining.
so you have to put up with surveillance or put up with freedom?
I dont think the state should be able to trace transactions
At risk of being called a crypto bro or something (I’m really not, I learned all this shit years before everything turned into what it is), I’d like to play Devil’s advocate here for the moment and ask how that’s different from fiat currency?
USD is practically untraceable, and people are being scammed out of it constantly with no recourse.