Ok maybe we had bitcoin over a decade and nobody cared. It was mainly used by criminals and tax evader. The concept of a decentralized money system is stupid when they just drop the Blockchain and fork a new one once a too rich person got hacked.
Bitcoin is not regulated by the government, but by rich people. Bitcoin has a 100% virtual value. An artificial scarcity does not create value. If tomorrow the the USA makes bitcoin illegal, it's value will drop a lot.
I mean the stock market is similar, but at least it is regulated.
The rugpull was in the context of ntfs.
Ok when you said that NFTs are the same as any crypto currency you definitely showed that you don't understand the difference.
Please tell me how crypto is regulated?
And I mean by a trustworthy entity like a state or at least a company that you can sue in case of error.
What regulations am I talking about?
Imagine you are at twitterX and have to pay some fines to a specific bank account. However because your incompetent ceo fired the accounting department the new people get the account wrong. Now your money is in the wrong place.
However in most countries keeping that money is illegal and the bank will assist you to get it back.
Now imagine they used bitcoin instead. They enter the wrong wallet. Once the transaction is done there is no way back. You could in some way try to get in contact with the person of the wallet, but you can't even be sure you can get a hold of them.
Even better if you entered a nonexistent wallet. Then the money is gone. No backsis takis.
And don't get me started with the cost of transaction, or the power cost.....