alt Hacker News> the usefulness of bitcoin is negative from the viewpoint of a free society
if you mean PoW mining instead of crypto in general then maybe. ethereum uses about as much power as a small village in europe so it should never be a target for climate action.
the public benefit of blockchains is real and it comes from the fact that no one controls them and they let users ignore the law. thats the part governments dont like. corporations also dont like it even if they work in the industry, coinbase and binance started their own chains so they would have full control over the way they evolve.
crypto is a cypherpunk/anarchist technology that got hijacked by investors to sell their scam coins and fake decentralized web services. without it your only option for buying things that are illegal in your country (weed, abortion pills, guns, hacking tools) is sending cash in paper mail or using some complicated scheme where you have to trust third parties. i think thats worth some tax evasion.
No. The societal impact of crypto currencies is net-negative.
I know the original idea. In 2009 I bought coffee using Bitcoin. I had to wait 30 minutes till it went through despite using a fee that back then mirrored what PayPal would take. Then I knew: OK this is not going to be used as a cash replacement.
Then it became clear that it was used as a way to pay for illegal shit on the internet, be it drugs, botnets or services of questionable ethical value. Of course also to speculate, to launder money, to blackmail, to extract ransom, to run ponzi schemes or rug pulls, which became a big driver by people who wanted to get the wealth without having to put in the legwork.
And these are still the main drivers behind crypto currencies today by a wide margin. So yes: Net-negative. Prove me wrong.