I believe that some cryptos have some innovation and bring some utility (Ethereum smart contracts for example) BUT most of it is just a huge Ponzi scheme derive

I believe that some cryptos have some innovation and bring some utility (Ethereum smart contracts for example) BUT most of it is just a huge Ponzi scheme derived from cheap and abundant money (low interest rates and easy credit). I remembered about +- 10 years a go in Portugal, everyone started talking and participating in this Pyramid scheme game, called "The Bubble/Ball Game" with the only difference in being presented as concentric circles instead of a pyramid: https://i.servimg.com/u/f44/12/54/78/75/folha_11.jpg https://i.servimg.com/u/f44/12/54/78/75/folha_11.jpg I went to check the exact dates that this happened and was reported by newspapers: 16 June 2008: https://translate.google.com/translate?hl=&sl=pt&tl=en&u=https%3A%2F%2Fwww.dn.pt%2Farquivo%2F2008%2Fjogo-da-bolha-ja-movimenta-milhoes-993463.html https://translate.google.com/translate?hl=&sl=pt&tl=en&u=htt... 20 June 2008: https://www.publico.pt/2008/06/20/jornal/o-jogo-da-bolha-a-falencia-da-justica-e-as-causas-do-atraso-265757 https://www.publico.pt/2008/06/20/jornal/o-jogo-da-bolha-a-f... Boom! Right at the same time the last big bubble in US (subprime crisis). This proves not only that low interests and easy credit spreads between asset classes, but also between geographies. Each day it passes, the worst the burst of the bubble will be for EVERYONE. Of course the most difficult part is to guess when, it can be tomorrow or it can be in 2 years, and knowing that the latest stages the most outrageous are the returns, we still could be 50%/100%/200% from the top. For me, I'm almost all invested in S&P 500 and Nasdaq 100, they would also be affected when the bubble burst, but at least I will have productive assets generating cash-flows and selling actual things that people want and need, instead of gold-like (or with even less utility than gold) "tokens".