Let's look at cryptocurrency consensus and distribution mechanisms.
Proof-of-work-Let's give the money to the jerk who wastes the most resources and destroys the planet.
Proof-of-stake-Let's give the money willy nilly because distributing a new coin fairly is not important. In other words, let's scam people and give all the money to ourselves.
ICO-Let's scam people.
Useful proof-of-work-Let's give the money to the person who solves a useful problem. This will create a valuable cryptocurrency. But we cannot have this because we deny science.
USEFUL POW PROBLEMS ARE THE ONLY WAY TO FAIRLY DISTRIBUTE A CRYPTOCURRENCY. CRYPTOCURRENCY MINING HAS SO FAR BEEN A DESTRUCTIVE WASTE. CRYPTOCURRENCIES WITH THEIR DESTRUCTIVE MINING OPERATIONS SCAM ICOS ARE A MARKET FAILURE DUE TO SHEER STUPIDITY.
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