I’ve always been skeptical of cryptocurrency because I have never understood what problem it is attempting to solve. I joke that it has all the disadvantages of cash combined with all of the disadvantages of a credit card. As best I can tell it is only really useful for illegal transactions. Jackson Palmer, originator of Dogecoin, made some statements on Twitter recently that are worth reading and perhaps even thinking about:
After years of studying it, I believe that cryptocurrency is an inherently right-wing, hyper-capitalistic technology built primarily to amplify the wealth of its proponents through a combination of tax avoidance, diminished regulatory oversight and artificially enforced scarcity.
there is more: