Crypto is as much a part of the "real world" as anything else. Like everything else in the real world, we need to decide at a societal level how we want to use it then regulate that use with "regulatory control".
I disagree. It's tulip mania all over again and serves only to facilitate corruption and fraud. Name any single legit use cases that are more than 20% of transactions.
And it's not only corruption and fraud. That implies some level of intent. I'm sure more than 20% of transactions are honest day traders just trying to make a quick buck before the speculation collapses.
Speculative trading on known garbage is certainly some kind of moral corruption and ethical fraud, although not illegal.
I say this having made a little under $1000 doing so occasionally for the past 2 years.
even as hyperbole it relies on a misunderstanding of tulip mania, eventually getting a list of a bunch of separate use cases and some poor soul actually getting roped into watching you play devil's advocate on each use case about how its not a "legit" one
bubonic plague deaths of the speculators seems to have caused the crash more than anything else, because price discovery just stops until May, where it has re-ranged