>>6844379 lb

I use to believe cryptos would become the common man's new alternative to fiat money. Now I feel it's mostly tulip mania speculation on top of a system intended for black market transactions. (Or a system intended as a honeypot for such).

I suspect Big Tech is pushing it because it aligns with their 'Internet of Things' ideology, and Big Banks are embracing it to keep people from demanding gold-backed currency as the way forward.

Out of the hundreds of purchases/payments I made last year, only one had the option to pay with bitcoin. To call it a currency is an exaggeration if it cannot actually be used in 99% of everyday transactions.

But when any "investment" has provided a 3x return in 6 months, most people will jump in gladly instead of risking the chance of missing out. Even if they don't know who built it, what exactly it does, or whether it has intrinsic value.