Regulate Crypto or It'll Take Down the Economy - Warren WSJ op-ed

[canuckledragger]

2. From everything I've seen and read so far...

I think crypto is just a huge combination of ponzi/pump and dump scams, and maybe a dash of money laundering run by shysters and thieves. It's basically worth only what you convince others to put into it.

The way I think it goes is a conversion of real world currency into these digital bitcoin things and the crypto part being the combo of securing the funds and being able to escape scrutiny to a degree when depositing or using the funds to buy something. Hmm...whom would that kind of thing appeal to?

Also damaging to the environment given the power needed to 'mine' the coins that doesn't always come from a clean source, the cooling needed for the equipment along with causing problems for the locals because of the consumption, etc.