> No one is hiding the fact that by buying crypto, you are exchanging your legal working currency for nothing more than an entry in a database with no real guarantees of any kind --- legal or otherwise
You just described the modern banking system. Yes, the government will give you guarantees for your stored funds to some extent, but when shit hits the fan, you are on your own (example 2008 financial crisis).
> All crypto really does is provide a quasi-viable excuse to entice people to lie to themselves about economic reality and what we call "money".
The same can be applied to the modern stock market. How many top players bring actual value, are sustainable, and can live more than 6 months without pumping stocks (and company valuation) through social media nonsense and other accounting tricks?
You just described the modern banking system. Yes, the government will give you guarantees for your stored funds to some extent, but when shit hits the fan, you are on your own (example 2008 financial crisis).
> All crypto really does is provide a quasi-viable excuse to entice people to lie to themselves about economic reality and what we call "money".
The same can be applied to the modern stock market. How many top players bring actual value, are sustainable, and can live more than 6 months without pumping stocks (and company valuation) through social media nonsense and other accounting tricks?