Agreed - some find it useful to have this instrument in order to move dollars to crypto, so it's really no worse than the fiat currencies that we are forced to

Agreed - some find it useful to have this instrument in order to move dollars to crypto, so it's really no worse than the fiat currencies that we are forced to use, and that many are deciding to move away from. It is a fact that at present, you can't replace your entire life with cryptocurrency transactions, but the actions of the Federal Reserve over the last few months demonstrate how useful it is to have a parallel construct that actually represents an asset that isn't immediately able to be transmogrified by actions of a shadowy cabal (JPow in particular, who with his 50mm nest egg stuck in a hole at BlackRock, has a direct incentive to keep markets afloat) Just my $0.02