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See cf No True Scotsman fallacy, of which this would be a perfect example.

• woah 4y ago
  No. The entire purpose of cryptocurrency is to enable holding assets without intermediaries having custody of the assets. Whether or not you think this is valuable is another question, but it is undeniable that this is the technical ability that cryptocurrencies enable. SBF created a giant custodial casino where one could bet on cryptocurrency prices, and people lost money that they gave him custody over. If they had held it in their own wallets, they would not have lost it. Many people in the cryptocurrency community spoke out against him for a long time. This is like if SBF had a penchant for kilts, the media was asking “what does this mean for Scotland?”, actual Scottish people were saying “this has nothing to do with Scotland”, and you come in with the comment “nO tRuE ScOtSmAn”
  • johnnymorgan 4y ago
    Well said, this is clearly the case here.
  • brindlejim 4y ago
    Tell that to the vast majority of crypto holders who cannot master the underlying technology of crypto and therefore rely on the exchanges. Crypto is not contiguous with your highly selective, normative definition. Crypto is everything done by everybody buying, selling and building tech for crypto.