Cryptocurrency is much better understood as a social phenomenon than a technical one. The reason for the hype is very simple, people who have already bought int

Cryptocurrency is much better understood as a social phenomenon than a technical one. The reason for the hype is very simple, people who have already bought into it greatly benefit financially from creating more hype. They also have a lot to lose from the bubble bursting (savings, jobs, companies, friendships). So from just a few free market extremists who think this is a good idea for ideological reasons, it can sustain itself indefinitely as long as it keeps roping in more people. Hence nfts for artists, web3 for web devs etc. Disclosure: I own ~$1 in cryptocurrency I forgot the password to years ago