3 ms·

> although they do make many trade-offs to be trustless, private and censorship resistant which means that in practice they are an inferior alternative to fiat

> although they do make many trade-offs to be trustless, private and censorship resistant which means that in practice they are an inferior alternative to fiat currencies & traditional finance if you have the option to use those, so the only legitimate use that remains is either grey area/unlawful transactions or legal transactions in locations where traditional payment rails do not exist or are outdated Is this supposed to be an argument for cryptocurrencies, because this sounds like one that shows why they are a scam.

jpgvm 4y ago
It doesn't show they are a scam. It shows they are useless to most people because fiat does what most people need, just better. Crypto has actual use cases, just those use cases usually revolve around not being able to trust your counter-party, access to easy laundering systems or access at all when access to fiat is denied. This leaves you with the very healthy of set of potential users being those oppressed by nation states, criminals and adult industries and maybe some variations on these that I can't think of right now. So not a scam, just mostly useless and when it's not useless probably attracts unwanted attention vs fiat physical cash.