As someone who absolutely hates Crypto: It's basically a way around currency controls/trade/monetary restrictions in countries like Iran, Zimbabwe, Russia, Chi

As someone who absolutely hates Crypto: It's basically a way around currency controls/trade/monetary restrictions in countries like Iran, Zimbabwe, Russia, China, and other problematic or failed states. You can literally convert your local currency into energy to run your mining rig and create a fungible pseudo-currency that can be transferred to family/friends elsewhere and directly into dollars. So there is always going to be a legitimate use for Crypto until it is banned. Even if its stupid speculative environment-destroying crypto-bro idiocy, there is a constant demand for it in these developing/failed state/evil regime states. Just because the Iranian Rial is 0.000024 dollars on google, doesn't mean Iranians can actually get anywhere near that exchange rate in reality due to state controls. So while 1 Dollar = 42250.00 Rials right now, I know people who can't convert to dollars for less than 125,000 Rials, and typically 200,000 or more.