this post was submitted on 23 Nov 2023
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Who could've ever seen this coming? Who could've known that crypto is a sham?
Oh, wait. Yeah, that's right, almost everybody. If you lost money in this, that's on you.
If you actually read the article and not the headline you would recognize that this has nothing to do with the legitimacy of cryptocurrency and everything to do with money laundering. All monetary value is imaginary after we got off the gold standard, so how are currencies controlled by global governments any less of a sham than crypto that is decentralized and not obfuscated by central banks?
Also if you lost money trading this news then I agree, that's on you. The total crypto market cap is valued higher today than before this news broke in the past 24 hours so if you sold on this news you only have yourself to blame ๐๐๐
Well the practical difference is that money is something people actually use, where as crypto is mostly something they just hope to resell later to a higher bidder - who will only buy it because they hope to resell later to an even higher bidder.
Oh people definitely use crypto all right! That's why they had to pay $4.6B to settle a money laundering case.