You’re conflating the problems experienced ten years ago with one of the first cryptocurrencies that did not yet have the auditing capabilities built into the blockchain like modern gen2/gen3 cryptocurrencies that have these functions inbuilt to their blockchains.
You can say the exact same thing about fiat currencies.
This is not an accurate statement either. Do you understand what smart contract capable cryptocurrencies are being used for today? Forget about Bitcoin - it’s a dinosaur compared to Ethereum and Cardano for example. Bitcoin isn’t capable of smart contracts and likely never will be unless and until they fork Bitcoin into BTC2.
Contributor: smart contracts are essential to the decentralized finance space. What exactly are they?
coinmarketcap.com
When we begin to understand the defi movement and how important smart contracts are to eliminate middle men and enable automated transfer of goods and services directly from buyer to seller - we can begin to see why defi is all but inevitable - even if it’s in its relative infancy today. There was a time when fiat currencies were crazy talk - when all currencies were tied to precious metals - but that time has come and gone and here we are with mass adoption of fiat currencies having become the norm. Cryptocurrencies are simply the next evolution of currency in the modern world.
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