[znyboy]

I wouldn't go so far as to say that it's all a gigantic fraud, as there are some small worthwhile innovations in distributed cryptographic verification. However, almost every single addition to that point is riddled with corruption and scams for what is essentially a gigantic linked list.

We have lit a metaphorical forest on fire with proof-of-work mining and been told that it's good for the environment. We have charged a weeks wages in transaction fees for a loaf of bread and been told that it's good for the poor. We have seen people lose their life savings over typos and been told that it's a good store of value. We have allowed blockchain founders to walk away with billions of stolen savings and been told that it's decentralized.

As a generalization, blockchains and cryptocurrencies cause more far more damage than good.