cryptocurrency is and always has been a useless technology in the best tradition of useless technologies: a combination of libertarian aesthetics and a pyramid

cryptocurrency is and always has been a useless technology in the best tradition of useless technologies: a combination of libertarian aesthetics and a pyramid scheme. the complaints people have with state currency are basic political problems that cryptocurrencies are not going to resolve. the basic feature that gives state currencies reliability is the backing of the state. without that, and states will never want to give that to cryptocurrencies, they will always be commodities with no stability and no real use value. and all the people who have bought in already will need to sell to a new generation of suckers, regardless of if they conceptualize it like that or not.