Part 3/7:
The Problem with Current Cryptocurrencies
Despite the appeal of cryptocurrencies as investments, many lack a distinct practical application. Various coins, such as Dogecoin, gained traction primarily from community hype and memes rather than substantive use cases. This influx has led to a crowded market but also raised concerns over the potential for scams and manipulative practices, tarnishing the reputation of cryptocurrencies.
Jimbo argues that people have begun to view cryptocurrencies solely as investments, diverting attention from their essential function as currencies. This shift harms the evolution of cryptocurrencies into practical transactional tools.