They all fell for it. Except Elon. 8:58AM EST
VK on Truth
.

You know, I'm not a financial wizard - but I always thought of all crypto like this

Fuat - paper with no value, no gold to back it, but at least there is proof of ownership of payment due, for work or goods rendered

crypto - a thing that has no physical presence - WORSE than FIAT! Controlled by 0s and 1s, that SOMEONE ELSE programs... and can disappear with the click of a button.

I agree.
Grama used to say that a bird in the hand is worth two in the bush! 🤣
Give me something tangible and in my possession!

Yep.

I am sure there are sophisticated fiscal traders looking at my post and thinking "poor thing, does not get it".

I like to subscribe to the KISS method when looking at most things.
keep
it
simple
stupid

The banking system began when traders wanted security for their gold coins - too many robbers and highwaymen meant carrying trading money was very dangerous - and hiring body guards was expensive.

The Rothschilds said:
Give us your coin before you leave, and when you arrive at your trading destination, give this IOU note to our rep, he will give you your money, minus a small transaction fee, do your trading, and then, before you set out again, repeat, and we will provide you your coin on your return.

The start of the banking system

Genius idea really, provide fiscal security for a small fee...

Of course, if the note got lost, or stolen, guess who got to keep the money.

Rothschilds then became lenders to crowns and countries, the snowball just got bigger