The blockchain, the structure on which crypto lies, is the power of crypto currency. The blockchain will ultimately change the way transactions are done in the future.
In order to use the blockchain, there needs to be a “token.” Those are are two facts that should be kept in mind.
“Crypto” in the sense of FTX and other tokens such at Ethereum based “coins” can be sketchy as hell. Those things are like Penny stocks and exist only to make their founders wealthy.
That said, the foundational digital coins (Bitcoin and Etherium) have significant use potential. But educating the masses on that is difficult when there are so many voices screaming in the noise chamber.
I would suggest anyone with a serious interest or concern in these things look into where the investment in crypto infrastructure is happening. It is important to understand the differences between the major forms: Bitcoin, Ethereum, and XRP—along with the Central Bank Digital Currencies that are being planned.
There is a lot of talk about tulips and Ponzi schemes. A more accurate description would be the very early days of the internet.
Time will tell. No one should spend a penny on this stuff without some deep research. But, to dismiss it out of hand indicates as complete misunderstanding of its use, its intent, and its function.
I’ve done considerable research and have determined that Bitcoin is a Ponzi scheme. But then Capitalism is also a Ponzi scheme which we will be finding out as the world’s population flattens and there are not enough consumers to keep the pyramid from collapsing.