I agree with you on all of that.

Basically eth and BTC are the only cryptos that make any sense, ICOs are scams, most other coins are scams, and stuff like the USD coin show that even the legitimate sounding ones are incredibly fragile.

That doesn’t make it a scam, it’s just speculative.

There’s also the belief that it’s safer than individual currencies, or that it’s less vulnerable to inflation of the money supply. Those are legitimate reasons to buy.

As stupid as I think Crypto is, it’s no longer purely a scam.

It’s now packaged into assets like ETFs and recommended as a diversification tool (though I disagree with the Economist’s analysis on this one). So it is in some sense a real asset at this point.

But crypto is a ouji board with a planchette pointing at random prices and the hands pushing it are a bunch of US banks and guys with monkey avatars that cost more than my house on X (both the site and drug).

I love the idea but hate how Mozilla did this