The industry IS a bad apple. There are zero legitimate use cases STILL of any crypto related product.
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Might even be an existential risk. One possible solution to the Fermi Paradox is that they invented crypto and it wrecked them.
The thing it's trendy to hate on is probably just like other things it's been trendy to hate on, and claiming otherwise looks pretty silly. Unless flavored vapes are also a potential filter event, that is.
Crypto's mostly gamed and fanciful market cap is still smaller than Apple's actual market cap.
What about Primecoin? Finds new prime numbers all the time. Filecoin pays and gets paid for server storage space. How in any way are these projects scams? There are dozens of projects that utlize the blockchain and have a token and are not scams. The fukk outa here with this oh everything crypto is a scam. Bitter, you are.
Filecoin is interesting because there is bona fire economic activity associated with it. But, if you believe:
The cost of storage on Filecoin is $0.0000001 USD / GiB / mo.
This makes no sense. That’s $10^-4 per TiB per month or one cent per TiB per 10 years. You can’t buy anything remotely resembling a hard drive, even used, for anything resembling this price. You can’t buy a disk controller. You can’t buy power to run the thing.
This means that miners have absolutely no incentive to store your data except for the lulz. This is useless for any serious purpose.
Finance is a legit use case. If you think it's not then by extension you have to write off the legacy financial system as well.
Think about something like private/public pensions, annuities etc. A cogitating being knows that they are getting older and will need money for retirement, but they also should know that there are essentially just 4 ways to make an investment grow without any labor input from the investor: the bond market, the stock market, the real estate market and private lending to companies or individuals.
Now with the possible exception of private lending a citizen can do all the above, and remember they also know that they will need money for retirement. So tell me again why do they need public/private pensions and annuities? And why we allow such actors to operate given they redundacy considering the fact that they are preying on people's fears that they won't be able to make it in the future?
If crypto preys on people's greed then the legacy financial system preys on people's fears. They are 2 equally bad behaviors.