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681 points Anon84 | 3 comments | | HN request time: 0.653s | source
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reenorap ◴[] No.46193336[source]
I worked at a crypto exchange and after I came to the conclusion that 99% of crypto was scams and rugpulls, I sold all my crypto and vowed to have nothing to do with it. It's more of a religion than a financial instrument and absolutely nothing has shown to me that crypto is anything more than a speculative gamble, basically tulips with the religious promise of a better world. The number of employees that lost money on rugpulls while I was there, but "still believed in crypto" was staggering.
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earnesti ◴[] No.46193945[source]
I've never understood crypto, however I'm long term Bitcoin fan and user, and don't consider it "crypto". I think Bitcoin is pretty much opposite what the typical crypto project is.
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alternatex ◴[] No.46194475[source]
How is it opposite. In my mind they all fall under the same libertarian fantasy umbrella.

The post mentioned the idea of casually sending a billion dollars. Was that ever possible with Bitcoin? AFAIK it's less ergonomic to send money using Bitcoin than it is using traditional banking.

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1. efnx ◴[] No.46194732[source]
It pretty easy. I personally think it’s much easier than in traditional banking.

The hard part is that for day to day things you still need an on ramp and off ramp, but that is changing as merchants accept crypto directly.

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2. daveguy ◴[] No.46196060[source]
Messing with crypto is in no way easier than traditional banking. And traditional banking has guarantees that crypto does not.
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3. efnx ◴[] No.46220471[source]
Sending funds overseas is much easier with crypto than with traditional banking.

For the most part all I need is an address. That’s it. Then it takes a couple minutes to transfer - done!