This clip of economist Paul Krugman explaining that crypto is really a tool for the tools, and not any sort of legitimate currency or investment practice, is wonderful. In an interview with Hasan Minhaj, Krugman lays it all out.
“No legitimate use” for crypto, and the popularity? “Because it is a cult.” It is like Krugman puts a stake in the vampire’s heart.
Crypto is and always will be a scam. Any positive item described could be solved w/ a far less complex solution and would include direct oversight/monitoring. It is absolutely a stupid solution to problems it barely addresses while causing vastly worse problems.
The ability for me to easily trade some holder of value after hours of my financial institution is solved *for me* through credit/debit cards, Paypal, Venmo, etc. Meanwhile, the price of electricity goes up while stability of the US Dollar goes down.