A closer look
Cryptocurrency crashes repeatedly demonstrate that attempting to reinvent the global banking system with completely unregulated internet money just accidentally reinvents all the historical financial scams from the nineteenth century. Every time a new digital coin claims to democratize finance, it inevitably just recreates the exact same Ponzi schemes, bank runs, and wildcat banking disasters that regular laws fixed decades ago. Crypto enthusiasts will spend hours lecturing you about the beauty of the blockchain, only to lose their life savings because a twenty-two-year-old CEO operating out of the Bahamas accidentally deleted the master password to the exchange. We essentially spent massive amounts of electricity boiling the oceans just to learn why the Federal Reserve and financial regulations were invented in the first place!
