As of 2021, Crypto = Ponzi.

I do not know how crypto should be, will be, or even ought to be in the near-, medium-, or long-term. What I do know though is that as of this date, there is no practical difference between that and a literal Ponzi scheme.

The paralysis of the authorities across the world is stupefying, to say the least. Either it is banned outright or is allowed free rein with zero oversight. Is there no one in power who has a reasonable strategy, or even understanding of this phenomenon that is clearly here to stay?