Re:FTX to file for U.S. bankruptcy, CEO resigns
by potatototoo99 on Friday November 11, 2022 @05:18PM
(#33567634)
Modern crypto has little to do with bitcoin.
Bitcoin was about digital money, out of the reach of central banks as a response to the 2008's financial crisis.
Modern crypto is about trying to convince others your altcoin has some intrinsic value by selling rumours, partnerships, governance or some other vaporous dream, so it can be used for gambling.
The problem are central exchanges creating monstrous speculation instruments and of course gambling with user funds on top of it by lack of regulation.
Bitcoin was about digital money, out of the reach of central banks as a response to the 2008's financial crisis.
Modern crypto is about trying to convince others your altcoin has some intrinsic value by selling rumours, partnerships, governance or some other vaporous dream, so it can be used for gambling.
The problem are central exchanges creating monstrous speculation instruments and of course gambling with user funds on top of it by lack of regulation.