Hiding Wealth

Well, it's good to finally hear what nearly all crypto-enthusiasts dodge or hide or otherwise bamboozle the idiots with. Yes, crypto enables wealthy, corrupt people to deprive their countries and their compatriots of the chance of a fair distribution of the wealth. Welcome to the world where enabling criminality is virtue. And, in those countries, the government members themselves are the usual biggest users of crypto.

Banking the Unbanked.

The biggest fraud of all. The unbanked cannot transact to get their food or sell their (legitimate) goods. Typically, they don't have the ability also to understand how they can lose money by simply holding crypto. To get crypto and then to use it, they will almost always have to transact or, at minium, value things in a hard currency. Ooops, we're back at square one: where does to the money come from? See "Hiding Wealth" above. This also assumes the user has access to the technology and reliable infrastructure and knows how to use it. And, lastly, getting and using a wallet for normal folks in the developed world is a challenge. If you lose your phone or wallet or key, then you lose everything.

BitCoin is P2P

See "Banking the Unbanked" above.

Bitcoin is Decentralized

Well, here we go again with nonsense that matters not at all except for see "Hiding Wealth".

No Duplication Possible

Please explain this to the Unbanked. In addition, please also explain the duration you have to wait (currently) before you can be sure any transaction completed correctly. And if someone got your phone and sent themselves all you money, please explain that they will never see it again. And, lastly, since like so many in the space, you are unaware of the Achilles heal of this ancient technology no getting new life: transaction speeds will never be what they are with the current e-pay systems. Ever.

Effortless and Anonymous Online Payments

See all the above. This is getting repetitious. But, you know what Herr Goebbels said about repetition?

Reducted Risk for Merchants

A merchant has all the downsides as above. But the merchant also has the need to be constantly calculating what she charges and what the value of inventory is since the value of crypto is constantly and frequently fluctuating and too frequently violently. A merchant better be versed in advanced statistical methods to be able to price and purchase inventory.

Investment

The weird thing that crypto has added to the use of this word is that one knew why an investment was worth what it was worth and it could be explained. Apart from illicit demand and gambling on exchanges, which are nearly inexplicable given their hidden nature, crypto is pure speculation. Never could it be called investment. In the case of lotto tickets, at least you have a fixed probability you can use.

Be Part of a Revolution

That makes the world worse. Great cause.