technology has nothing to do with the billions and billions of dollars "investors" have lost to crypto. The blockchain itself is tech. It is not responsible for any of the good old fashioned incompetency, theft, fraud, swindling, tax evasion, and Glengarry Glen Ross antics of criminals like SBF, or Do Kwan, or the outright lying about how they were actually doing business of many many crypto companies. 10 billion here, 40 billion there, pretty soon you are talking about real money.
The problems are structural- "investing" in crypto is gambling, and its basically a ponzi scheme where the payoffs to the early investors comes from the later suckers.
NO assets back any of this stuff, as much as the stable coin guys tried to convince you that there were.
Its musical chairs.
I never lost a dime using the internet, cell phones, my cnc machines, my cvt transmission, my heat pump, all the various computers I have owned since 1984, or any other tech I have owned.
Never had a problem using my phone to deposit checks, or transfering money from bank accounts online, or paying my bills with auto pay. My electric meter in the states is read by a utility truck driving by remotely.
All of which were "new" technologies, just like blockchain.
The difference is that they are regulated by governments, are located in first world countries where they have courts and laws- whereas the crypto industry, much like the illegal streaming sites or porn sites, are mysteriously in tax havens with no extradition treaties.
And the web3 site, every single week, lists thefts and scams and bankruptcies that are only applicable to crypto, due to both the gullibility of its customers, and the intentional lack of real security of its non-country specific design.
read it and weep.
Really, if you are considering anything more than a direct transfer using bitcoin, You owe yourself a glance-
https://www.web3isgoinggreat.com/
Prisma was hacked this week for 11 million. My banks, both here and in the states, are miraculously lucky I guess, cause that doesnt happen to either.