I'm glad you understand what I'm trying to say, even if "speculation" isn't quite the right term for it. I think scams are an obvious harm, but the highly fina

I'm glad you understand what I'm trying to say, even if "speculation" isn't quite the right term for it. I think scams are an obvious harm, but the highly financialised and speculative nature of crypto is a more subtle harm: most investment produces positive material side effects like products or services, but because the main selling point of crypto is to continually pass it around in a circle, a lot of money, time, and expertise is wasted on something that is completely unproductive. To be fair, I think this criticism mostly applies to Wall Street too, but most people no longer try to argue that Wall Street is a source of meaningful innovation. To say nothing of the proof of work model leading to ever increasing energy consumption during climate change. I just don't see much real upside to the crypto industry, and quite a lot of downside.