Let me explain why I am not a big fan of systems that accelerate our manmade malaise for the desperate voodoo of yet another rat race for money.
First, let me pop your bubble; markets do not exist. They are mind-forged manmade manacles; inanimate objects turned animate for the sake of preserving an economic religion.
The problem with cryptocurrencies is equal to that of a religion, a religion not becoming truer merely because you manage to find more believers. Hence the price increases sheerly by increasing believers, with no assets to back up the collateral of such belief, steadily becoming a wild goose chase.
A goose chase you can make real money from; in the same way, theology is a highly profitable endeavor that enamors many a greater fool. Humanity is prone to make-believe, a reason we as the most intelligent major species on earth are on a trajectory to live the shortest, consistently building manmade systems counter to what strengthens humanity’s evolution.
There is a lot more to say about cryptocurrencies bound to harm humanity, not in the least the treatment it is awarded as the cause rather than a consequence of economic wherewithal. A confounding of consequence and cause as the source, in Nietzsche’s words, of the grave depravity of reason.
Needless to reiterate, I am not a big fan of systems that accelerate our manmade malaise for the desperate voodoo of yet another rat race for money.