The post It’s me, the person who works in crypto. I’m home for Thanksgiving.  appeared on BitcoinEthereumNews.com.

If you are like me — the one crypto person representing the entire industry around the dinner table this Thanksgiving — you are also likely anticipating the usual barrage of questions stuffed with preconceived judgments about Web3, crypto and blockchain.  Let’s think about all those questions before we are in a food-induced stupor, and maybe this year we can finally be thankful for finally getting through to your most skeptical aunt.  What is going on with the crypto guy who has been in the news? FTX, SBF, FBI, SEC — an alarming jumble of letters that has spelled out some stressful times for our industry. In short, Sam Bankman-Fried (SBF) committed fraud using an exchange he created.  When it comes down to it, fraud is fraud. Bankman-Fried committed fraud and used crypto and Web3 to do it, and no, his actions are not reflective of an entire industry. Think about the internet; we can use it to order double chocolate cookies to our door, or we can use it to sell fake autographed pictures of Elvis.  Read more: SBF’s guilty: What’s next? The use of a technology like the internet as we know it, or Web3, doesn’t make it inherently bad. Bankman-Fried’s use of a crypto exchange to steal money from his customers doesn’t make crypto inherently bad either. Bitcoins and doggie coins? Did I miss something?   Bitcoin is crypto (a cryptocurrency), just as ether, and dogecoin (or doggie coin as my cousin prefers to call it) are. There are actually thousands of cryptocurrencies with different pros and cons. Some people love to speculate on crypto prices, some people think they are securities, and some people move to Miami because of them.  Read more: Gensler: Bitcoin is not a security, but tokenized Pokemon cards may be The interesting thing about…

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Filed under: News - @ November 22, 2023 4:18 pm