What in the **** is going on with ‘cryptocurrency’?

I read the ‘cryptocurrency’ Reddit for entertainment.

And honestly wtf is going on over there. Gambling, unregistered securities, pump and dump schemes, Ponzi or pyramid schemes, insider trading, manipulation of prices, illegal celebrity endorsements. You name it it’s so much bad.

People want to ‘get rich quick’ they have no idea what they’re buying, they have no idea what a digital commodity is or actually could be…

And the worst part is the commenters over there, many of them at least, try to disguise an online gambling house where the house always wins as some new type of technology.

While reading ‘the bitcoin standard’ or ‘the lords of easy money’ I think is seen as actually educating oneself… there is a whole lot of bad, of rotten, potentially of illegal in the ‘crypto’ space and we need to be clear about it. ‘Crypto’ outside of bitcoin has so, so much wrong with it.

Thoughts?

It’s not a new technology, it’s unregistered securities and borderline fraud. It’s really really bad. What is going on?