Agreed that Crypto, NFTs, and I would even say LLMs very broadly speaking, are not evil technologies (LLMs are incredibly unfortunate -- this is perhaps the worst time in history for them to become available) per se. All of these have limited applicability. But obviously any new platform or tech has to disrupt entire industries or else it's a total flop, so we get these idiotic bubbles.

Bitcoin is a huge bubble propped up by speculators and sooner or later it will come tumbling down.

My take (OK actually this take) is it's because all the "legitimate" grinds are funnelling value up to 10 different billionaires, leaving less and less to go around. The only thing left is scam economics -- fooling desperate people to ""invest"" in the latest grift, on the gamble that they can get their measly capital in on the new bubble before the suckers and bag holders come sniffing around. But of course the 0.01% own the whole gameboard, so good lucky screwing over your fellow investors, and oh yeah, every single working person.

I think that's why the AI platforms are being pushed so forcefully -- like, there is nothing organic or deliberate about them. Just like Crypto & NFTs. There's no other way to make oodles of money anymore.