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William Seger

(12,256 posts)
4. Other than being useful for illegal transactions, cryptocurrency is just an online gambling game
Wed May 28, 2025, 04:50 PM
May 2025

Cryptocurrency is not, and never will be, an actual currency. First, it lacks the stability that a currency requires. With the dollar conversion possibly changing wildly by tomorrow, both the buyer and seller are taking a risk on every transaction -- either of them might get screwed by a random Tweet or no clear reason at all. And exactly because of that, it also lacks another necessary attribute for a practical currency: nearly universal acceptance in trade.

You don't need to ask for crypto advice from anyone who owns crypto -- it'll always be "buy, buy, buy" so that their own speculation will pay off. That's the only reason for buying it, since that's the only way that it ever will pay off. If you think you can win that game, go for it, but there's nothing cryptic about its unsuitability as a currency OR an investment.

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