Mining crypto currencies is as useful as playing video games, it’s just that a large number of 3rd party individuals are willing to pay you for that output.
Crypto currencies are ephemeral “assets” with values set by people who don’t understand that there is no lack of virtual currency, when anyone can start up another, such as “Let’s Go Brandon!” currency, in a wink.
Without actually producing widgets to sell, the product being delivered is not even air.
So i call your wink, and raise you two winks .
“Crypto currencies are ephemeral “assets”
Your statement above is correct. But is also applies to government issued fiat currency which is vastly inferior in almost every respect to the major crypto currencies.
I understand where you are coming from but your thinking is dated. All that matters is what the crowd values, not what you think is valuable.
I also own physical silver. Which might have value, but which has not been well valued for decades (and also suffers from massive price manipulation by banks and others).
Mining crypto is making me lots of ‘currency’, some of which I have been converting into assets like property. Which by the way is also an ephemeral asset class in the US because the government can and does take it at will.
But there is only one original cryptocurrency.