U.S. traders are buying 'digital residency' in Palau to skirt restrictions on the amount of cryptocurrency they can withdraw and the exchanges they can use. Major exchanges have already banned the ID, fearing abuse.
That’s probably a fair assessment, but still a rather damning indictment of the industry writ large.
There are definitely better versions of cryptocurrency that I think could be more useful, but the industry is definitely not headed in that direction. Instead, it’s all pump-and-dumps, rug-pulls, and other schemes that render them nothing more than highly speculative asset classes in which the underlying asset has no intrinsic value.
That’s true. And personally, I stay away from all of that mess. And anybody I introduce, I take great pains to explain why I stay away from all that mess. But if they want to make their own mistakes, then that’s on them.
That’s probably a fair assessment, but still a rather damning indictment of the industry writ large.
There are definitely better versions of cryptocurrency that I think could be more useful, but the industry is definitely not headed in that direction. Instead, it’s all pump-and-dumps, rug-pulls, and other schemes that render them nothing more than highly speculative asset classes in which the underlying asset has no intrinsic value.
That’s true. And personally, I stay away from all of that mess. And anybody I introduce, I take great pains to explain why I stay away from all that mess. But if they want to make their own mistakes, then that’s on them.