How many people on here use bitcoin or other cryptocurrencies?
I known cryptocurrencies are something the CB is against as they want to keep fucking with the current fiat currency that's not even back by gold anymore. No matter what happens this year, I do wonder what all might change with money this year.
I like cash but now days probably prefer cards more out of convenience. I've never tried out any cryptocurrency. I always felt like if nothing can regulate it then what can stop criminals from fucking with it in bad ways.
I won't pretend to be an expert in cryptos, but I know enough to know that it's mainly Bitcoin that doesn't have much inherent value. Most of the other cryptos have some kind of utility purpose. In the end though, it's all fiat and that's where I'd be cautious about it.
They might have a utility purpose, but 99% of their current dollar-value is entirely numismatic. I.e., speculation-driven. For example, no unit of ethereum does anything worth $1800.
"In the end though, it's all fiat and that's where I'd be cautious about it."
What you have to be most cautious about isn't its potential to lose value quickly, but that it's electronic. Accounts and exchanges can be shut down, or traced.
A fiat paper bill might lose value, but it's harder to lose. A real meat-space mugger has to sap you in an ally to steal it.
What can you use crypto to build? What use do they have other than as an intermediary for barter?
EOS is attempting to provide a network where one can convert between 'in-game' currency and real world currency. I can see that as an intermediary for barter. Doesn't it also provide a utility though? There's The Graph which indexes data from various crypto networks.
I guess utility is the term used in the cryptospace to talk about what the coins/tokens can do other than be a store of value, as such, crytpos can't 'build' anything more than the dollar can.
The dollar is literally worthless. Saying "it can't build anything more than the dollar can" is exactly my point. Creating a game currency that can be converted into real world currency is equally as worthless, though I guess it might make playing the game more fun if playing the game somehow is also a form of mining.
However, if there is a crypto that allows you to build something in electronic land (i.e. do real work) that would still be some sort of intrinsic value. Can you tell me a currency that has that additional functionality?
No, I can't tell you a currency that has intrinsic value, and I doubt anyone could.
If what you're getting at is 'nothing is real money except for real money' aka silver gold and other metals, then you could've led with that, and I'd agree. Those money metals have practical usage, more than what you can find in any type of fiat currency. What I was getting at earlier was Bitcoin doesn't do much and thus has no intrinsic value. Other cryptos provide some kind of digital utility which makes them more useful than Bitcoin.