Well, crypto is a scam and you better be on the side which gets rich from it.
Already in 2015 Washington Post summed it up:
> - Hey, do you want to hear about the future? It's a digital currency called Bitcoin that lets you spend or move your money online without paying any fees.
> - Sounds great. How does it do that?
> - Well, Bitcoin saves you money by making transactions irreversible.
> - So ... if I get scammed, I got scammed? There's nothing I can do about it?
> - Yes.
> - Okay, but is it at least easy to use?
> - The thing is, I don't actually use it. I just hoard it. I'm waiting for some greater fools to push up the price by using theirs.
> - Oh.
> - Yeah. So you should buy some Bitcoins and use yours.
Preston Byrne's great post two years later https://prestonbyrne.com/2017/12/08/bitcoin_ponzi/ suggested to call it a Nakamoto scheme, drawing parallels to chain distribution schemes:
> As used herein a “chain distributor scheme” is a sales device whereby a person, upon condition that he make an investment, is granted a license or right to solicit or recruit for profit or economic gain one or more additional persons who are also granted such license or right upon condition of making an investment and may further perpetuate the chain of persons who are granted such license or right upon such condition.
What is amazing in this new kind of scam is the lack of central scammers and certain actors can easily exploit the culpability of ordinary people. That's what this is, setting up various vehicles to separate fools from their money, and, of course, having a stake in the operation which does the separation. By all means this should be illegal and eventually it will be. Already Facebook's Libra attempt was met by a very stern no by financial regulators in various European countries. https://www.reuters.com/article/us-facebook-cryptocurrency-f...