> Then why isn't BTC and other cryptocurrencies skyrocketing right now and seeing widespread adoption by Russian oligarchs looking to move around their money?

> Then why isn't BTC and other cryptocurrencies skyrocketing right now and seeing widespread adoption by Russian oligarchs looking to move around their money? Because people are and have always been foolish and ego/pride driven. > The United States has a vast array of coercive means (from locking you in prison for forgery to trade weapons that can destroy your economy) to ensure that the USD has value. Do you view that as a positive? I sure don't. That's a really depressing reality when you have something like Bitcoin which doesn't necessitate any of that. > We'll increasingly see this in the coming months with crypto as powerful people will get their piece of the pie from the crypto boom, while most average players will be left with nothing. "Crypto" isn't Bitcoin. The conflation of the two is, in part, why the market fluctuates as violently as it does.