[reader_mode]

>The utility of cryptocurrencies is not decided by governments, or companies, or you. The utility will be decided by reality.

No the utility is determined by you me and everyone else collectively. The problem is financial mechanisms that allow inflating these bubbles are not market driven, central banks are flooding the markets with low interest rates, if they want to direct the markets they need to react to negative distortions they cause.

[koonsolo]

> central banks are flooding the markets with low interest rates

Seems like a good reason to store your value in something else than central bank tokens.

You call it "inflating bubbles", I call it competition for something central banks have a monopoly on.

[weare138]

Crypto is no different but instead of central banks you have a shadowy network of large investors at the top artificially moving the market. It's like a continuous pump and dump scheme.