[Roccus]

So iow, this really has little to do with crypto.
It’s just like investing in AIG before the crash only instead of using cash as was the case then, crypto was the exchange medium here...right?

[BobL]

“It’s just like investing in AIG before the crash only instead of using cash as was the case then, crypto was the exchange medium here...right?”

Yep, from what I’ve seen that is the difference. Once you let go of your money, or crypto, you put it at risk - the only question is how much risk. Crypto seems to be a lot like gold, if you hold it yourself (in a ‘crypto wallet’), no one can take it from you, but it can lose value due to speculation. Beyond that, if you do hold on to crypto, just like gold, you won’t see a dime in interest income. But if you let go of the crypto...then you might interest income, at least until you find out that your exchange was crooked.

But Sam Bankman Fraud was into Extreme Altruism (or whatever he called it) and wore shorts to interviews, so he was never going to put his investor money at risk in his exchange, so no need for insurance. LOL!

[wafflehouse]

crypto is not an investment, it is a medium of exchange.
that doesnt stop people from treating it how they wish (its a free country).

the beauty of crypto, is that it is money that is untouchable by government intervention. (dollar) inflation? not in bitcoin. (precious metals) rig the market price? not in bitcoin (unless they buy a whole lot more of it)

it is not immune to price rigging.. if everyone tries to screw everyone else by using the tool as a weapon (it is not an investment, it is a medium of exchange) you will get large price swings. but that will go away at some point when enough stupid people sell all their crypto or the grifters dont get enough return on their scams.

not to mention its a whole lot lighter than gold to carry and much easier to send around the world in minutes for almost no extra charges.

Crypto has the same intrisic value as the dollar!