Normal
You might not think you're gambling...but if you don't know if in 5 minutes your position will be worth anything or not--you're gambling. Putting money in equities or commodities on the stock markets (the most similar thing to crypto) is gambling too; even mutual funds really are--but because the later are risk pooled among lots of people and assets they're far less volatile.The tech is neat...and completely rife for abuse by corporations wanting to launder money. Which is exactly why they do. Which is the funny thing--for something as bent on keeping things 'decentralized' as possible--it ends up funneling money/value and therefore power back into the hands of exactly the corporations that had it in the first place that they were trying to decentralize it away from.(Deposit) Banks are great. I know I put my money in a bank, its presence is actually insured. In the USA it is called FDIC--in the event of global financial meltdown, they will insure my deposit in order to even operate as a deposit bank legally in the USA. One of those things that came out of the Great Depression--and people having their money poofed by banks. Moreover--banks are almost never are robbed. Unlike crypto wallets and exchanges that are hacked and robbed every day of the week, that aren't insured. The sucky thing about banks--interest rates, that are paid to encourage people to keep liquidity in them, are at an all time low so your money isn't 'working' at all when deposited versus a mutual fund even in government bonds.
You might not think you're gambling...but if you don't know if in 5 minutes your position will be worth anything or not--you're gambling. Putting money in equities or commodities on the stock markets (the most similar thing to crypto) is gambling too; even mutual funds really are--but because the later are risk pooled among lots of people and assets they're far less volatile.
The tech is neat...and completely rife for abuse by corporations wanting to launder money. Which is exactly why they do. Which is the funny thing--for something as bent on keeping things 'decentralized' as possible--it ends up funneling money/value and therefore power back into the hands of exactly the corporations that had it in the first place that they were trying to decentralize it away from.
(Deposit) Banks are great. I know I put my money in a bank, its presence is actually insured. In the USA it is called FDIC--in the event of global financial meltdown, they will insure my deposit in order to even operate as a deposit bank legally in the USA. One of those things that came out of the Great Depression--and people having their money poofed by banks. Moreover--banks are almost never are robbed. Unlike crypto wallets and exchanges that are hacked and robbed every day of the week, that aren't insured. The sucky thing about banks--interest rates, that are paid to encourage people to keep liquidity in them, are at an all time low so your money isn't 'working' at all when deposited versus a mutual fund even in government bonds.
