In this case its a utility thing. The casino example is a good one. It 'produces' entertainment. Google produces email and search services and eyeballs for ads.

In this case its a utility thing. The casino example is a good one. It 'produces' entertainment. Google produces email and search services and eyeballs for ads. What's does crypto produce? Early on in crypto my answer would have been 'nothing' but it turned out I was wrong. It does a couple of things: - circumvents capital controls - allows easier transfer of funds between different countries - allows anonymous money transfers - allows storage of value (at least until the prices drop) of money outside regulated financial intuitions. Interestingly, the utility cases for crypto are all ways to get around existing laws and regulations. The thing is that all these laws and regulations were developed for a reason (chesterson's fence), which is to curb fraud, crime, extortion, theft, etc. Eventually the laws will catch up to crypto, and when they do crypto won't have utility.