We should define something like a "Nakamoto scale" . A Nakamoto Type I civilization would be one that converts all available power of a planet into waste heat and funny numbers, a Nakamoto Type II civilization does that with all the power output of a star and so on... basically the Kardashev scale [0] but with the restriction that useful output SHOULD NOT be produced [1]. Edit: lowered requirement level from MUST NOT…
This is basically what all life does. Thermodynamically, life can be described as an open system which makes use of gradients in its surroundings to create imperfect copies of itself. Crypto currencies still have a problem with creating copies of itself, but humans are happy to oblige.
Life transforms matter and energy into increasing structure and complexity.
A classic pathological life-like process is the paperclip maximizer.
The paperclip maximizer transforms matter and energy into a regular structure of low complexity.
Crypto is one step worse than the paperclip maximizer. It converts matter and energy into pseudo-random numbers.
The only structure discernible within the randomness is the mechanism that induces organic lifeforms to work on behalf of crypto.