ncooty

Caroline Ellison sounds like a giggling twit. These montebanks duped people because many people are stupid; they *crave* get-rich-quick gimmicks. From its inception, crypto has been BS, and its advocates have been both unable and unwilling to explain what it is (e.g., a store of value, a basis of exchange, an arbitrary useless collectible) and how it works (e.g., monetary policy, deposit insurance, regulation, checks against conflicts of interest). Moreover, the flippant claims about the intended use (e.g., a store of value) were undercut by the hype as a speculative asset (a useless collectible) and the fact that crypto markets largely track equity markets rather than hedge them. It's always been obvious BS--a speculative bubble for an imaginary asset. People who think tech jargon is pixie dust or who chase get-rich-quick schemes are their own worst enemies. There's a lot of reasonable finger-pointing at FTX--the supply side--but we should be more worried about the droves of tenac