Sorry, couldn’t resist. Most here who are strongly pro-cryptocurrency tend to rant about “fiat money” and I’ve tried in the past to explain that it’s even less concrete and accountable than that, but it fell upon deaf ears. Somebody made a lot of fiat money off of this, but I suspect it’s not the smallholders, never is.
I personally think it was a good idea to begin with, but like anything that has potential, it usually gets taken over by the bad guys. It appears cartels have formed amongst the miners, regulation is coming soon, outright banning of markets for some is occurring.
You are right, someone made a lot of fiat money, and that money can buy Ferraris, Mansions and Yachts.
One thing I am amazed about (maybe I’m just a disillusioned former believer), is the speed with which it seems to have been corrupted and the ease with which it appears it is being manipulated. That’s how the world turns when money is concerned!
For the love of money is the root of all evil... I Timothy 6:10a