Cryptocurrencies Are Detrimental to Society

You might see how useful they are quite soon.

“The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve.”

– Satoshi Nakamoto

We are currently at banks being required to keep a ridiculous zero percent in reserve.

tl;dr - "So in short, I think that cryptocurrencies provide nothing of value to society. They do however facilitate crime and contribute to climate change."

Is this satire?

I'm wondering if this author covertly intends to strengthen the perceived utility of through this article.

Yes, near-free & instant to exchange, borderless, alternative to gov't, privacy-preserving, competitively evolving etc. digital money provides 'nothing of value'. /s

Also, "I don't need it right now, therefore nobody needs it ever".

If people didn't raise the "selling drugz" thing every time. Selling drugs should not be a crime anyway.

I don't like crypto currencies (and coffee is my drug of choice), but saying "drugs are bad mmkay" and "how are we going to pay the generous pensions to our public servants [while most of us are never going to be able to retire]" is almost an incentive to try Bitcoin once again.

>Therefore, I would propose to shut them all down.

OK the author clearly has no idea how a blockchain and a set of validators work

I would gladly hear his plan to "shut them all down"