> Yet crypto, a very small industry in comparison to other sectors, is despised and singled out as if technology by itself is suspect.
This omits why it's singled out: at current proportions, the sheer amount of fraud in the cryptocurrency space would dwarf everything that we see in conventional finance, were cryptocurrency to grow to the same size.
Minuscule scale is not in itself important (other than being a hallmark of under-delivering); what matters is proportions.
And lest this be used to claim that I think Deutsche Bank's fine is perfectly sufficient: they ought to have paid back every single cent they laundered, plus fines. But I won't let the perfect be the enemy of the good, particularly when the "perfect" in this instance is the same group of tools, just not wearing suits.
But you are not advocating for outlawing banking, which despite the centuries of regulations and oversight, still recently in our modern age conducted crime at vast scale.
Yet crypto should be banned? When we are throwing them in jail?
You're making a false assumption, which is that I don't want to throw a lot of bankers in jail. Or really just prohibit them from doing banking anymore, since I don't really like jails.
Did you read their post? They specifically stated that what’s important is proportion of fraud to useful activity. There’s fraud in banking, but in proportion to the useful activity it’s small.
This omits why it's singled out: at current proportions, the sheer amount of fraud in the cryptocurrency space would dwarf everything that we see in conventional finance, were cryptocurrency to grow to the same size.
Minuscule scale is not in itself important (other than being a hallmark of under-delivering); what matters is proportions.
And lest this be used to claim that I think Deutsche Bank's fine is perfectly sufficient: they ought to have paid back every single cent they laundered, plus fines. But I won't let the perfect be the enemy of the good, particularly when the "perfect" in this instance is the same group of tools, just not wearing suits.