“The economic analogies are gambling and a Ponzi scheme. Because the profits that are given to the early investors are literally taken from the later investors. This is why I call the space overall, a ‘self-assembled’ Ponzi scheme. There’s been no intent to make a Ponzi scheme. But due to its nature, that is the only thing it can be.” UC-Berkeley’s Nicholas Weaver has never been a fan of cryptocurrencies. But with all the hype (and the recent drops), it’s probably at least worth considering why he says all cryptocurrency should die in a fire. (Mining for crypto is already carbon intensive. Maybe we can kill it in a more environmentally friendly way? CompostCurrency?)