How are we supporting or encouraging theft? When the state increases inflation and the supply of money on a whim, they directly steal value from the little people and funnel it to the big people.
That's just ignorance. In crypto "little people" is literally everybody, the "currency" is run by a handful of whales (largely quasi-criminal exchanges and casino mobsters), who have a track record of colluding to manipulate the market and hike up fees. And no, you cannot vote those people out of office. How is that _any_ better?
People frequently lose a significant amount of money due to hacking, fraud, or extortion with no legal recourse. This is not where you want your grandparents parking their life’s savings.
My credit card was skimmed and charged $2000 in the US a couple of months ago. I blocked the card from my phone, files a dispute and the charges were reversed.
The most annoying part was updating all my linked services, but I lost no money.
If someone literally robs the bank I have an account with, I also lose no money even if they actually steal some from the physical vault.
What is the equivalent website to https://web3isgoinggreat.com for banks, and what is the relative %age lost/stolen on a daily/weekly/monthly basis? I'll bet it's WAY higher for crypto.
Crypto just has pump and dump schemes on a practically regular basis, but I guess that's completely different because the way it funnels value is slightly different.
That's not possible with crypto.