Cryptocurrencies are so volatile as to be worse than useless as a store of value. The volatility encourages hoarding ("I'm hanging on until it recovers/hits the next milestone") and discourages its use as a medium of exchange. The difficulty and unpredictability of transacting in cryptocurrencies have so far meant that its best-known uses have been either speculation or trafficking in illegal goods. And proof-of-work has wasted a staggering amount of electricity that could have been put to uncountable better uses. Fiat money has problems, but crypto has more.
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