> Ultimately cryptocurrencies are a negative-sum game in that they take in real money and just move that money around, while spending some on overhead.
I'm no Crypto fan, but this is wrong.
Plenty of new coins get minted which are redeemed for real money. This is basically the credit creation cycle[1] as seen in traditional banking (where banks create money by lending the same deposit out multiple times simultaneously) except in this case there is often no equivalent of a deposit (except sort-of staking in some cases).
I'm no Crypto fan, but this is wrong.
Plenty of new coins get minted which are redeemed for real money. This is basically the credit creation cycle[1] as seen in traditional banking (where banks create money by lending the same deposit out multiple times simultaneously) except in this case there is often no equivalent of a deposit (except sort-of staking in some cases).
[1] https://www.economicsnetwork.ac.uk/archive/starkey_banking