While I don’t agree with some of the asserted conclusions, the core of this essay is really solid.

A few select highlights:

Cryptocurrency is a greater fools game of shuffling numbers around with cryptography under the delusion that this alchemy of entropy can generate progress and wealth–while in fact it does neither.

The author goes on to highlight that unfortunately, the real opportunity is on the backs of victims and those most financially vulnerable.

Investing in cryptocurrencies is a negative-sum game, that from a macro perspective simply redistributes wealth from later investors to early investors and the expected return of an average investor is negative, most people are guaranteed to lose money.

Huh… what does that sound like?