https://web3isgoinggreat.com/charts/top (“$68,004,906,103 has been lost to hacks, scams, fraud, and other disasters since January 1, 2021.”)

Would love to see how much money PayPal and stripe freeze on a yearly basis.

If you want to avoid that you have to follow the original Bitcoin vision where everyone had their own node, but I don't think anybody actually works like that these days, to a very small rounding error. Everything interacts with some sort of very centralized service that can screw you over.

Yeah, you can theoretically operate without any of that. Just pretty much nobody does.

Who measures inflation? Why, the same central bankers crypto people inveigh against. This coin will give them a lovely arbitrage opportunity against all the holders.

And we see the same happen with cryptocurrencies with astonishing regularity.

The problem is that crypto is part of the financial industry and seems to have become a repository of its worst elements due to lack of accountability, reversibility, or regulation.

Crypto is like a financial version of the “de-policing” experiments in places like San Francisco. “We’re tired of cops abusing their power” but they forgot that without the cops you get abused instead by a bunch of random bandits.

Getting rid of all financial regulation to rein in central banks has the same effect. Now you get eaten alive by the hordes of smaller time scammers that were being held at bay by the system.

Sounds like crypto to me.