What is your respond to people who call Cryptocurrency a scam?

As with each cycle, every now and then cryptocurrency gains a little more attention from the news. Last night, Sam Bankman-Fried came up in a conversation and a friend regarded the whole cryptocurrency as a scam. I’ve been investing for a few years now and am quite happy with how much Cryptocurrency has helped my investment portfolio. So I smiled in response and asked the reasoning behind the statement and to no surprise he said that no intrinsic value, unlike fiat currency.

I decided I’d save my breath said nothing else in the subject and went on with other topics to talk about.

It’s clear that cryptocurrency isn’t for everyone but I believe that we are putting unreasonable amount of faith in fiat currency if we don’t even consider cryptocurrency in the slightest.

Thoughts?