[wyager]

That is extraordinarily pessimistic and rather short-sighted, to be blunt. The point of cryptosystem-based financial tools is that they're more... raw than the normal financial tools we have access to historically. They work by a much stricter set of rules. This means it's easier to mess up and lose money, but it also means they're more efficient, predictable, and equitable.

The existing financial system is inextricably entwined with our political and legal system. This is both good and bad. Bitcoin, ethereum, etc. are efforts to make financial systems that are independent of politics and central management. In my opinion, Bitcoin has done a much better job, because it's actually reasonably decentralized and they don't change the rules whenever people get their money stolen.