erinptah: (Default)
humorist + humanist ([personal profile] erinptah) wrote 2021-12-22 12:46 am (UTC)

"MLM for techbros" is definitely a fair summary.

It's a digital token that is limited, tradeable, and every unit is worth the same as every other unit, so it could be perfectly usable! As a...liquid resource, maybe? The thing gold is IRL for a lot of people.

But crypto is so overrun with gamblers, speculators, and scammers that the price isn't stable or reliable. Which ruins the usability for basic functions like "buying goods in stores." Or for anything that isn't gambling, speculating, and/or scamming.

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