Crypto and Blockchain

Blockchain enables crypto transactions to be performed 100% securely. Many think that the technology of blockchain will make crypto the future of money. They ignore the many flaws of crypto, some of which are caused by blockchain.

This article by Sergio Bello explains why blockchain prevents crypto from becoming a universal currency.

"Blockchain"

"Block" Derived from "blocked".
With crypto, it's either blockchain or nothing. All crypto transactions must proceed via the blockchain. If there is no access to the internet then all transactions are "blocked", meaning that no transactions are possible, because without the internet the blockchain is not accessible. Obviously, crypto can never replace cash - for the simple reason that crypto cannot be used everywhere at all times.

"Chain" Derived from "chained" or "shackled".
As is explained above, all crypto transactions have to be "chained" or "shackled" to the blockchain.
Also, crypto fanatics are "chained" or "shackled" to the internet. They cannot survive without it. Without the internet, they can't even buy a loaf of bread.



"Blockshack" Derived from a block of shacks, or a shanty town.

This is where crypto fanatics end up after they have lost all their money by trading crypto unsuccessfully, or by becoming victims of the many crypto scams. Without any money, they can't even buy a loaf of bread.




Summary

Blockchain is a good technology that has many useful applications.

Crypto uses blockchain. Unfortunately blockchain is incompatible with the concept of a universal currency because a universal currency, to be universal, must retain all the useful characteristics of cash, such as being usable under all circumstances everywhere. Blockchain can only be accessed via a communications network, which might not always be available. Therefore crypto can never become a universal currency. Nevertheless it is claimed by many crypto fanatics that crypto will become a universal currency. This flawed logic is just one of many fundamental defects in the crypto blueprint.

Another defect of crypto is that blockchain allows crypto transactions to be performed anonymously. This makes crypto ideal for criminals because it opens the door to many types of fraud that otherwise would not be possible.

Overall, crypto has so many defects that it is probably worthless except for criminal purposes.