That's complete misinformation.

The point of blockchain is not to be traceable but not alterable or tamperable with unauthorized or false data. A distributed database that can't easily be faked.

Some cryptocurrencies, like Monero, achieve high anonymity. While not perfect, good opsec will fix its flaws. Just like anything. That's not the case with the majority of cryptocurrencies though, but saying anonymity is but an illusion is just false.

If you mean through regulation, yes, partly

If you mean they hold most of it and thus have a total decision power, then I must disagree

Please post a link if you're able, that sounds like a very interesting watch.

Crypto is a scam.

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Breaking news! Criminals (but not only) use crypto, and people get scammed. This happens as well with fiat, so that must surely mean fiat is a scam!

Flawless logic, really. You people impress me with your thinking.

if you sell something for $1 at 10am your $1 still buys $1 at 10pm.

in crypto, it's easily manipulated, and that's by design. it's a scam because the only people who have that control are the wealthy.

If I sell 1BT worth of something at 10am, it could be worth 2BT at 10pm, but it could also be worth .1BT equally.

the purpose of a Fiat currency is economic supremacy that is backed by the governing body and the economy that uses it.

tell me, what governing body or economy is crypto backed by?

I usually do, but in general they're dead for lack of demand

Crypto is not a scam, it's just plain stupid.

The entire idea behind it is what a third grader might come up with and think it's a great idea. It's not.

It literally requires every connected wallet to process the same transactions as everyone else. Can you imagine doing billions of transactions per day this way? It is extremely inefficient and yes, this is one of the reasons why even the relatively low amount of transactions that Bitcoin processes costs more electricity than a small modern country.

It's in a way comparable to a cpu doing 6+7 in a single CPU cycle whilst AI needs to burn down a forest to answer the same question

Crypto is stupid.

I get what its trying to replace and i agree that the current system sucks as well for a long list of reasons, but crypto is NOT the solution. A fundamentally different system must be designed to be able to solve the issues that crypto is trying to solve

None of that is "by design" its just the result of an unstable system. Crypto sucks for a long list of different reasons.

it is by design for a lot of them.

The instability?

You're giving it too much credit, especially the altcoins that didn't look beyond "existing". I know, I made one like 7 years ago or so and I ain't proud of it.

The instability of the worth of these crypto coins is just inherent to the instability of it, and actually not that different from currency fluctuations. You don't think the entire world works with US dollars, no?

It literally requires every connected wallet to process the same transactions as everyone else.

wat?

wallets don't process any transactions other than yours. and even then, wallets do the easy work.

Your existence is a scam.

Don't even bother. You'll never get through to these drones.

I might be mistaken, but isn’t using a mixer considered money laundering in the US?