I agree with you that exchanges are the problem, in that you are just reinventing banks, but with worse regulation and extra steps, both cost and environmental.
I would though suggest that cryptocurrencies wouldn't be fraction of where it is right now without exchanges enabling everyones grandma to easily enter the casino and pumping up the pyramid scheme.
I would though suggest that cryptocurrencies wouldn't be fraction of where it is right now without exchanges enabling everyones grandma to easily enter the casino and pumping up the pyramid scheme.