Well, not true but beside the point. Since the ultimate punchline of your piece is “crypto is great”, it is important to note that nothing stands behind crypto either. Not large complex working economy that provides for 340mm people that can elect their own government and protect a system that permits creativity and invention to flourish and improve life, etc.

What is crypto? A cult being exploited by a totalitarian society so it can enjoy the benefits that the western liberal democracies have had… only without concern (however imperfect) for human rights, free speech and a say in who governs them and how.