[burnished]

Crypto solves a very specific problem; how to have a public ledger when none of the participants can trust each other and dishonest behavior is naturally incentivized.

But every defense is about how crypto will purchase this moral good of decentralization or freedom from the US economy, in some unclear and unspecified fashion.

There also seems to be an unresolve-able tension between the premise of an immutable ledger and human nature as seen through the various mechanisms to undo mistakes (ie regaining access to an account, reversing charges for a variety of reasona). That capability sort of requires trust and centralization.