To be blunt, "lack of governance from traditional govt" opens up door for mafia and black money which is mostly pumped into the crypto and that gives most crypto the value it has as of now. Because normal public who has no access to phone don't buy crypto. I know thousand of people who have computer, phone yet have never touched crypto or even understand it. So the money that is pumped into crypto market is from the white collar people who want to do dark work or mafia pumping into such coins.
Just my 2 cents of observation.
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Okay? Like all the legacy institutional investors that are buying up cryptocurrency now and are pumping and dumping? I tend to disagree with your assessment, but we are all entitled to our opinions I guess. 😁
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And even governments now, as is the case of El Salvador!
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I am not saying "legacy institutional investors" are not buying it. I am saying maximum of crypto money has been mafia funds movement or VC scams.
I don't think the rug pullers or the people being rug pulled vastly worked with the mafia/black market forces. Thanks for your input tho.