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this post was submitted on 20 Aug 2023
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Asklemmy
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That is true, but technically speaking crypto does the same, just in a really dumb way.
When you buy crypto, you essentially give away real money for something worthless, so the real money is free, while you have nothing except the expectation that some bigger idiot will give you real money for your worthless coins.
But contrary to banks, there is no check whether it's useful to give the money to that person (e.g. checking whether the investment is sound) and there are no guarantees at all that you'll ever see that money again, as the owners of bored apes can attest.