I think that he's confusing "crypto" - as in the Ponzai scheme - with cryptographic techniques. The latter is very interesting and has real world applications.

I think that he's confusing "crypto" - as in the Ponzai scheme - with cryptographic techniques. The latter is very interesting and has real world applications. The former is a scam which is making a small group very rich and will eventually wipe out a load of suckers.