by frankest 5 hours ago
Crypto at this point is neither decentralized nor anonymous. It’s a Ponzi scheme wrapped in increasing level of complexity and involving an increasing number of banks, and controlled by a decreasing number of very large players. This crypto octopus is putting tentacles in Fidelity, and major US banks, and pension funds, and 401k accounts, and any other money holder. They are putting debt on banks at leverage levels beyond any reason. So when the music stops playing the octopus can slurp the real money liquidity out of as many US banks and savings institutions as possible, to eventually collapse the savings even of people who have nothing to do with Crypto.
That's really not true. Sure, there are huge amounts of scams and ponzi schemes and that's what gets attention, but crypto is absolutely used every day by many in a decentralized and effectively anonymous way.
Dark markets are still active and people move large amounts across international borders effortlessly.
As an example of being effectively anonymous, I can easily take some cash, meet up at a cafe nearby with someone from a p2p site to swap it to crypto, and then pay a foreign company for hosting services for years with that crypto, sharing zero personal information.