You’re free to shit on cryptocurrency all you like, but it has many use-cases where traditional banks and payment systems fall short.

Without cryptocurrencies like Monero we wouldn’t have anonymous VPN services like Mullvad, and we would have a global web being forced to follow US laws despite being based elsewhere.

For example, Visa is forcing art platforms to ban (legal) adult content or face blocking. The alternative is master card and other cards that you can’t get in many parts of the world, and there is no guarantee that those cards also won’t start enforcing restrictions. For those places, cryptocurrency is easiest, cheapest and fastest.

Also, a ponzi scheme is something where you pay investors with newer investors’ money. This is not how cryptocurrency works. People pay a tiny amount per transaction to stakers or miners that keep the network going. Anything else is purely a result of the giant surge of new investors, and once we hit a period of stability, mining and staking will be virtually the only way to “earn” money from cryptocurrency and that is completely fair seeing as you’re paid to keep the network going.

Ethereum Layer 2 is cheaper than credit card transactions, by the way.

And the biggest vehicle for scams is google and Amazon gift cards.

Torvalds also dismissed the idea of technological singularity as a bedtime story for children, saying continuous exponential growth does not make sense.

No one in the cryptospace claims this.