The amount of ignorance portrayed in this thread towards crypto and what gives it its inherent value (ProTip: it's not nothing) is shockingly disappointing. I encourage all Patriots to read up on it and get yourself educated.
Crypto has no tie to tangible assets. Some, like bitcoin, are limited in production, which makes it better than fiat currencies, but that only has value if we give crypto (electrons on someone's computer) any value at all. Silver, Gold, Palladium, and Platinum have irreplaceable value in technology, jewelry, and they are just pretty in and of themselves. Precious metals have inherent value. Crypto does not.
If you would like to add to the conversation about what real value they have, please do. You are calling people ignorant and yet you have added absolutely zero knowledge to the conversation other than your feelings.
There's a lot more to it, but in simple terms, it's backed by the electricity, computation, and cryptography required to secure the networks and confirm the transactions. That is 100% tangible.
People are more than welcome to do their own research, it's not my job. But continuing to claim they have zero value and are backed by nothing, is beyond ignorant and dangerous to propagate.
Uselessness is relative. You find someone to take it or who can do transaction when most can't and maybe. Bring it to the wilderness where.i thrive, useless as nails driven up through the bottom of your shoe. You would trade me a fish for the ability to build a fire just one time when you are wet and frozen. Value must have context.
it's backed by the electricity, computation, and cryptography
A loss of energy from the planetary resources is NOT a tangible backing. It is a tangible loss. While I am not an expert in cryptocurrency, I'm not completely ignorant either. Gold, Silver, etc. are USEFUL all by themselves. They ADD to resources, they ARE resources. Crypto only subtracts from resources. As I stated above I know it takes energy and effort to mine them. I have looked into mining them myself.
Give me a tangible production of resources attached to it. I will look into it more if you do. For example, originally paper money was directly tied to silver. You could walk to anyplace and trade one for the other. It was tied directly to a tangible resource. What equivalent is there with crypto?
Not sure what to tell you, your mind is obviously made up. I don't know how to explain that trading resources back into computational work for the purpose of network security and transactional integrity is a form of value. Over a decade of time now prove this.
I'd suggest reading The Bitcoin Standard, I think it's only about $15. When attempting to define the characteristics that make a currency ‘functional’, Aristotle settled on five traits – fungibility, durability, portability, divisibility and intrinsic value. Crypto is the first currency in the history of civilization to check all boxes.
The amount of ignorance portrayed in this thread towards crypto and what gives it its inherent value (ProTip: it's not nothing) is shockingly disappointing. I encourage all Patriots to read up on it and get yourself educated.
Crypto has no tie to tangible assets. Some, like bitcoin, are limited in production, which makes it better than fiat currencies, but that only has value if we give crypto (electrons on someone's computer) any value at all. Silver, Gold, Palladium, and Platinum have irreplaceable value in technology, jewelry, and they are just pretty in and of themselves. Precious metals have inherent value. Crypto does not.
If you would like to add to the conversation about what real value they have, please do. You are calling people ignorant and yet you have added absolutely zero knowledge to the conversation other than your feelings.
There's a lot more to it, but in simple terms, it's backed by the electricity, computation, and cryptography required to secure the networks and confirm the transactions. That is 100% tangible.
People are more than welcome to do their own research, it's not my job. But continuing to claim they have zero value and are backed by nothing, is beyond ignorant and dangerous to propagate.
Uselessness is relative. You find someone to take it or who can do transaction when most can't and maybe. Bring it to the wilderness where.i thrive, useless as nails driven up through the bottom of your shoe. You would trade me a fish for the ability to build a fire just one time when you are wet and frozen. Value must have context.
A loss of energy from the planetary resources is NOT a tangible backing. It is a tangible loss. While I am not an expert in cryptocurrency, I'm not completely ignorant either. Gold, Silver, etc. are USEFUL all by themselves. They ADD to resources, they ARE resources. Crypto only subtracts from resources. As I stated above I know it takes energy and effort to mine them. I have looked into mining them myself.
Give me a tangible production of resources attached to it. I will look into it more if you do. For example, originally paper money was directly tied to silver. You could walk to anyplace and trade one for the other. It was tied directly to a tangible resource. What equivalent is there with crypto?
Not sure what to tell you, your mind is obviously made up. I don't know how to explain that trading resources back into computational work for the purpose of network security and transactional integrity is a form of value. Over a decade of time now prove this.
I'd suggest reading The Bitcoin Standard, I think it's only about $15. When attempting to define the characteristics that make a currency ‘functional’, Aristotle settled on five traits – fungibility, durability, portability, divisibility and intrinsic value. Crypto is the first currency in the history of civilization to check all boxes.