In “real” currency labor is compensated by wages, resulting in a net increase of collective wealth. Building a house generates a net increase in wealth overall;

In “real” currency labor is compensated by wages, resulting in a net increase of collective wealth. Building a house generates a net increase in wealth overall; there is “more there” than there was before. Cryptocurrencies do not share this property. They are zero-sum, which is a hallmark of a Ponzi scheme.