Programmer Humor

If your card is stolen, you are still safe. The credit card company reverses the charges.

You must know that's not actually how it works, often the funds can't be pulled back like that and instead the bank takes the hit. That is something that could be done with crypto as well.

That's a horrible example because that's exactly the same as what happens with crypto on a daily basis. When a crypto is dumped, it's value plummets leaving bag holders.

That's not what a bank run is, that's just a rug pull, and yes I agree there are a lot of scam coins that people fall for, that's not an indictment of the idea of crypto as a whole.

A bank run is when the bank does not literally have the money owed to depositors because they lend it out. (Or other means) and if too many attempt to withdraw at once they literally can not give people their money.

That's a completely different situation and it concerns me you think they're the same.

With banks your money is insured up to $250,000.

That's not a feature of the currency itself, it's a forced regulation due to bad behvior of the industry prior where people lost money. Again this could be done with a cryptocurrency as well with proper regulations in place.

Global monetary supply isn't fraud.

I never claimed it was, I said it was opaque. We can't know how many dollars are actually printed/in circulation compared to how much total is being "held" in banks.

Which is why I didn't say cash. I said credit card. If you are mugged and your credit card is stolen, you call the credit card company, report the theft, and you lose nothing. They don't hold you responsible for the list money.

I said cash, and have continued to reference cash, going back to the original BTC whitepaper the point has always been cash analogue with the ability to do more due to it being digital. It can't completely replace regulation and consumer protection just like cash couldn't without external enforcement.

Your dad's bank account was hacked and his money was returned by the bank TWICE. That's the opposite of fraud.

He was defrauded by the people who stole the money, but he wasn't scammed (going back to my previous point that these two words do not mean the same thing). My point was that the bank didn't "get the money back" they made him whole by taking the hit. Again that's not a feature of credit cards or currency, it's an external institution and regulation above them to enforce that. Again something I think should be done with crypto as well.

Your edit isn't fraud, it's scamming lol, there's articles showing the people who paid in the most got things from Trump, quid pro quo basically and the rubes who bought in for less thinking dear leader wouldn't rugpull them.

There seems to be a fundamental disconnect here.

The things you cite as positives for existing credit card/banking institutions did not magically appear out of thin air, nor did they start that way.

It takes time, regulations and knowledge for those things to be put in place, I'm all for that.

I also think shitcoins are scams, just like midnight infomercial products are mostly scams. Its not a hard concept to understand that commerce itself isn't a scam but some do fake commerce to scam or defraud people. The same is true for crypto, projects like BTC (I could go on a whole tangent about how it's been coopted and ruined but I won't) and ETH had actual usecases whereas doge/Litecoin/whatevercoin did not.