Some of the value cryptocurrencies create may be that they have become an opportunity for working class people to get exposure to risk, leverage, arbitrage, vol

Some of the value cryptocurrencies create may be that they have become an opportunity for working class people to get exposure to risk, leverage, arbitrage, volatility, and privacy that only very wealthy people had access to previously. Would be an explanation consistent with the Varian Rule. It's the poor(er) persons FX trading, which provides liquidity and price discovery. What does cryptocurrency move from one place to another? Risk, arguably, and it does it faster, cheaper, farther, and more verifiably than cash. That's probably the most amazing service since the Medici's brought modern banking to the world.