At least there's oversight of some kind.
The problem with crypto currency is everyone continues to view it as digital "currrency" when it is not. It cannot be a currency without government support.
Crypto is a commodity, not a currency, in much the same way that gold is but without the tangible benefits gold provides as a secondary value.
Sure, there are some places that would accept gold from you as a currency alternative, but like crypto, those are very limited.
If you walk into Walmart and offer to pay for your purchase directly using gold, they would tell you that you need to go sell it and return with actual money.
Most people assume that a commodity can become a currency if 1) enough people use it and 2) enough sellers accept it, but that's not the case. That's just bartering in lieu of paying.
Crypto is no different than investing in start-up businesses. You hope you pick a good one and hope that the people behind it are not scammers and that the security behind it and the exchanges that support it are strong enough they cannot be hacked.
I am not anti-crypto currency, but without regulation from some organization that can enforce those regulations and execute real consequences against those who mis-manage, steal, scam, etc. it is nothing more than a high-risk/high-reward investment platform.
