ChinaP on Nostr: “A cryptocurrency is not a currency, not a commodity, and not a security. Instead, ...

“A cryptocurrency is not a currency, not a commodity, and not a security. Instead, it’s a gambling contract with a nearly 100% edge for the house, entered into in a country where gambling contracts are traditionally regulated only by states that compete in laxity.”

— Charlie Munger, Vice Chair of Berkshire Hathaway

https://www.wsj.com/articles/why-america-should-ban-crypto-regulation-economy-finance-china-england-trading-currency-securities-commodity-gamble-11675287477