I will say some cryptos have usefulness (on the order of 1/1000 of where they are currently trading at imo), but bitcoin is not one of those with usefulness.
An intermediary currency only has use as such when its value is stable.
And it only has use as a store of value when it is stable.
And it only has stability when it has intrinsic value, or is backstopped by a trustworthy revenue stream. (And is not debased by massive expansion if the supply.)
And if not useful as an intermediary currency or a long-term store of value, a currency has no legitimate usefulness at all.
I totally agree. I mean more that some of the networks/software were designed to actually do something. If Eth for example was trading for $2, and stable, it could be usefull with smart contracts. Bitcoin and many others could never be.
I will say some cryptos have usefulness (on the order of 1/1000 of where they are currently trading at imo), but bitcoin is not one of those with usefulness.
An intermediary currency only has use as such when its value is stable.
And it only has use as a store of value when it is stable.
And it only has stability when it has intrinsic value, or is backstopped by a trustworthy revenue stream. (And is not debased by massive expansion if the supply.)
And if not useful as an intermediary currency or a long-term store of value, a currency has no legitimate usefulness at all.
I totally agree. I mean more that some of the networks/software were designed to actually do something. If Eth for example was trading for $2, and stable, it could be usefull with smart contracts. Bitcoin and many others could never be.