That argument is forever dead. It never will be a currency, because it was never needed to be a currency. What it is, is a limited supply DEBT-FREE asset that is out of the control of centralized government, and extremely easy to transfer and hold.
I use crypto for the following:
1. To store assets on my hardware wallet not directly tied to my SSN, thus being safe from ID theft
2. Earn anywhere from 3-20% interest on lending USDC via DeFi platforms, again via my hardware wallet
3. Store of value (BTC, digital gold)
4. Asset diversification (BTC, ETH - these two are worth over $1T I'm sorry but speculation isn't worth over $1T: these are legitimatized assets)
5. Speculation (Gen 3.0 cryptos)
In other crypto news, from someone who follows it:
Tezos (XTZ, a lesser known Gen 3.0 crypto) just released a pseudo-stablecoin (kUSD) that allows you to interest on your collateral as well as what you borrow (for a small risk in the XTZ price fluctuations). And because the borrowing rate is lower than the XTZ staking rate, you end up actually making money assuming the price of XTZ at the very minimum - the same price of when you borrowed. So there's another asset I will be adding to my #5 portfolio within the next month as that DeFi market builds liquidity, because no where else in the world do I know of any such setup that actually pays for borrowing. Now sure XTZ could just crash to $0 and make this whole thing moot, but that's very highly unlikely, but also some of the risk you need to take for the big gains.
There's still plenty of opportunity in this space: the stuff that gets invented is mind-blowing. Disruptive is an understatement. Once you start to realize all of this is working without any middleman... there's no going back to your previous mindset on what you believe money is and/or should be.
So again if you're going to sit on the outside and expect Reddit or [H] or whoever to convince you, instead of just spending some time using and seeing what is possible in this space (even just take 0.1-1% of your net-worth and put it into USDC and start playing around with what's in the crypto world): you have no idea to blame but yourself for missing out on the greatest wealth transfer to occur, and that will probably ever occur in human history. Which is now being accelerated by all the printing, devaluation of the dollar, etc.
That's all I can suggest at this point: trade some USD for USDC and instead of focusing on moon, first seeing what you can do it with and where you can go with that USDC. After spending a good of amount of time doing that becoming somewhat familiar with the crypto ecosystem, then maybe focus on moon as your hands will be a lot stronger after you've got knowledge of what's actually going on.
This dude knows what he is talking about. I am half way there. I have whatever BtC chump change and eth and LtC on Blockfi and I am starting to but USDC or GuSD there as well Earning 8.4% interest. Lot of people use them now and some people be scared lol but after watching videos of zac prince the dude is legit and talks about how they run business and how they don’t just give shit away and base it on their risk assement model. Basically lot of collateral requirement for the loans they give out and the LtV they require.
I should have had my shit there since last March would have made a few grand already back in crypto and usdc lol.