Any miner can cash out whenever they feel like it. Do you have any idea how crypto mining works? Why would you bother buying goods or services with crypto, when you can cash out whenever you feel like it?
Yes but how many miners are cashing out ? and to what ?
How much is the crypto being used as a currency?
I would want the ability to buy things in Crypto because it's supposed to be a currency.
"Mining" as I understand it was originally designed to be an incentive to provide the processing power needed to process transactions on the blockchain. It seems to me that it is being used more as a interest generator, a way to make it sound fun and active.
"Proof of stake" I have no clue about at all but it does seem to indicate that "mining" was probably unnecessary all along.
I want no restrictions on crypto and think governments should stay out of it. I believe it should fail based on it's own inherent valuelessness rather than some likely misguided and heavy handed government action.
I am open to the possibility that the various cryptos have a lot going on in China where the inflation, government policy, corruption and lack of transparency might make an alternative money much more practical. (but that is literally "Chinatown" as Jack Nicholson would say)