This is why it's not even close to dead and will continue to get flows of liquidity during boom cycles, because many others also see this regularity you've identified.

But imagine living in Argentina and working and saving your whole life just to see your life savings wiped out in a two week timeframe.

Or you get on some government shitlist and they freeze all your assets.

This happens over and over, and crypto can solve those problems.

do you have the same criticisms for the biggest equities in the US stock market?

Does it happen every two years? - obviously not

Are stocks intended to be currency? - no

Stocks also are attached to real property - ownership in a revenue / profit generating company and their assets. Crypto is only a vehicle for speculation.

A currency should not experience regular crashes or explosions of value. Assets are generally more volatile by their very nature.

Meanwhile, you still can't use it to buy a sandwich and promises to the contrary are over five years old with no progress to speak of. It remains merely environmentally disastrous not-money. Gold buggery is eternal, though; I wonder if the elderly watching right-wing news channels are the next to be targeted with buy-it-now ads.

My Venezuelan friends feel differently.

> you still can't use it to buy a sandwich

https://www.investing.com/news/cryptocurrency-news/walmart-m...

>It remains merely environmentally disastrous

https://www.coindesk.com/business/2021/03/05/the-frustrating...