I was reading through some comments on this post: https://communities.win/c/GreatAwakening/p/12jd0GCP85/cashless-bitcoin-and-the-devil-w/c/
And realized, I have shrugged off crypto because I simply don't understand it. For someone like me who is now realizing it's a good idea to get involved, how do I do it? It's very overwhelming, but I'm committed to learning. Let's talk!
I think the poster was referring to the fact that there is ZERO backing to crypto-currency; it's all just electrons. The rise in "value" of say, bitcoin, is similar to the famous Dutch tulip bulb investment bubble of 1800's (or was it in 1700's?). All these things favor those who get in early, and get out before it's too late.
It's not just math, it's basic math.
And reality.
SHA-256 is basic math?
The concept of a zero-sum game is basic math.
The concept of worthless being worthless being worthless no matter how many factors you want to multiply it by... is basic math.
Encryption, hey that's great. Blockchain, very cool. Many potential applications. Hurray!
But these "cryptocurrencies" themselves, I'm sorry, they are intrinsically worthless, and for every winner, there will be a corresponding loser. And that selection ain't gonna be random.
Correct. But, as it relates to the discussion, this is just "word salad."