Intrinsic - this would be any alternative use. Silver for example has alternative uses in electronics. Dollars can't even be used as toilet paper because they'll clog the drains.
Utility - This goes beyond merely the utility as a medium. Paper is light weight and therefore easy to transport, can be denominated conveniently, and digital forms may be transacted instantly across vast distances.
So stop. Even fiat has 'worth'. It derives it's worth from it's utiltiy. The problem is that the utility does not exeed it's inherent liabilities, notably that it controlled by a central authority who can at any time 'cheat' and break the rules.
Crypto has extreme utility, and that is entirely why it is worth what it is. Anyone who sees the collapse of fiat coming can recognize just how valueable a DECENTRALIZED, TRUSTLESS, PERMISSIONLESS medium of exchange is. One that you can't be deplatformed from, that carries zero counterparty risk, and is immutable from a centralized authority rug pulling, is a medium that would prevent what we are about to go through.
The collapse, destitution, starvation, and mass missery about to flood across the world could have all been avereted but for a DECENTRALIZED, TRUSTLESS, PERMISSIONLESS medium of exchange. What crypto brings to the table is the progress we've seen without the collapse that follows.
Crypto isn't worthless. It is worth far more than even the most bullish value it today. Right now only a fraction of the world recognize the utility, and have acquired a stake, yet the whole world requires the utility only a cryptographically secured blockchain can provide. You can buy in a greater stake than you will in a decade, and that remains as true today in 2022 as it was in 2012.
Crypto has zero intrinsic value, it is just a couple million electrons that make up the ones and zeroes in a hard drive. It cannot be used for anything other than as a currency. Even fiat paper can be burned for warmth, used as wallpaper, used as a form of (lousy) insulation, etc. If a currency does not have any intrinsic value, it doesn’t matter how much utility it has.
If you drop the hard drive holding your crypto, you will suddenly be bankrupt, how convenient. Crypto does not retain the ability to be used as a currency whenever the power goes out, which happens to millions of Americans every year. Crypto is the modern version of “You will own nothing and you will like it”.
People would often say that apple computers cannot get viruses, but that was because apple‘s market share was so low that most hackers didn’t waste their time making viruses that affect apple machines. But that changed when when Apple became popular. The same would be true with crypto if we switched over to it as our main form of currency. Every hacker, scammer, politician, counterfeiter, banker, hedge fund manager etc. on the planet would be targeting crypto for ways to manipulate it, and they will find ways. Humans are not perfect, all knowing, or all powerful, so the things that we make are not either. Anything designed and created by humans can be corrupted and destroyed by humans. You are delusional if you think otherwise.
Q said "gold will end the Fed," not "crypto will end the fed." Nobody can criticize the Fed for its fractional reserve banking and basing it on the petro dollar and then turn around and promote crypto, which is based on wishful thinking. Mike Adams's "Buttcoin and Shitcoin" cartoon sums it up perfectly. Bellybutton lint and Nintendo cartridges are more tangible than crypto. Crypto points us all towards a cashless society that will eventually require a chip in your hand, and in case you haven't noticed it, that's exactly the road the World Economic Forum is forcing us down.
Today agree man. So many people on here act like people are gonna carry around gold and silver. I like them too don’t get me wrong. But I like them as a “savings account” for lack of better term.
You’re grossly misinformed. True cryptocurrencies like Bitcoin can not be inflated. That’s the whole point. It’s the only sound money because it’s guaranteed by math
...and based solely on your full faith & credit in the US.gov fiat.
If sitting on an actual cash pile, convert it into hard goods*, pms & land.
*Tools, guns, ammo, building supplies, durable clothing & footwear.
Crypto? I have nothing except suspicion and that it will get increasingly tougher to convert your gains into tangible money without taxation or jail, by design.
FED is trying to prevent people from rioting when they realize their fiat federal reserve notes are worth nothing
They’ve never been worth anytning. The worth was all mental.
Just like cryptocurrency.
Mediums of exchange have two sources of worht:
Intrinsic - this would be any alternative use. Silver for example has alternative uses in electronics. Dollars can't even be used as toilet paper because they'll clog the drains.
Utility - This goes beyond merely the utility as a medium. Paper is light weight and therefore easy to transport, can be denominated conveniently, and digital forms may be transacted instantly across vast distances.
So stop. Even fiat has 'worth'. It derives it's worth from it's utiltiy. The problem is that the utility does not exeed it's inherent liabilities, notably that it controlled by a central authority who can at any time 'cheat' and break the rules.
Crypto has extreme utility, and that is entirely why it is worth what it is. Anyone who sees the collapse of fiat coming can recognize just how valueable a DECENTRALIZED, TRUSTLESS, PERMISSIONLESS medium of exchange is. One that you can't be deplatformed from, that carries zero counterparty risk, and is immutable from a centralized authority rug pulling, is a medium that would prevent what we are about to go through.
The collapse, destitution, starvation, and mass missery about to flood across the world could have all been avereted but for a DECENTRALIZED, TRUSTLESS, PERMISSIONLESS medium of exchange. What crypto brings to the table is the progress we've seen without the collapse that follows.
Crypto isn't worthless. It is worth far more than even the most bullish value it today. Right now only a fraction of the world recognize the utility, and have acquired a stake, yet the whole world requires the utility only a cryptographically secured blockchain can provide. You can buy in a greater stake than you will in a decade, and that remains as true today in 2022 as it was in 2012.
Until the internet goes down.
Crypto has zero intrinsic value, it is just a couple million electrons that make up the ones and zeroes in a hard drive. It cannot be used for anything other than as a currency. Even fiat paper can be burned for warmth, used as wallpaper, used as a form of (lousy) insulation, etc. If a currency does not have any intrinsic value, it doesn’t matter how much utility it has. If you drop the hard drive holding your crypto, you will suddenly be bankrupt, how convenient. Crypto does not retain the ability to be used as a currency whenever the power goes out, which happens to millions of Americans every year. Crypto is the modern version of “You will own nothing and you will like it”. People would often say that apple computers cannot get viruses, but that was because apple‘s market share was so low that most hackers didn’t waste their time making viruses that affect apple machines. But that changed when when Apple became popular. The same would be true with crypto if we switched over to it as our main form of currency. Every hacker, scammer, politician, counterfeiter, banker, hedge fund manager etc. on the planet would be targeting crypto for ways to manipulate it, and they will find ways. Humans are not perfect, all knowing, or all powerful, so the things that we make are not either. Anything designed and created by humans can be corrupted and destroyed by humans. You are delusional if you think otherwise.
Q said "gold will end the Fed," not "crypto will end the fed." Nobody can criticize the Fed for its fractional reserve banking and basing it on the petro dollar and then turn around and promote crypto, which is based on wishful thinking. Mike Adams's "Buttcoin and Shitcoin" cartoon sums it up perfectly. Bellybutton lint and Nintendo cartridges are more tangible than crypto. Crypto points us all towards a cashless society that will eventually require a chip in your hand, and in case you haven't noticed it, that's exactly the road the World Economic Forum is forcing us down.
I think you're going to be very disappointed in the near future, but i wish you luck
Today agree man. So many people on here act like people are gonna carry around gold and silver. I like them too don’t get me wrong. But I like them as a “savings account” for lack of better term.
For transacting bitcoin and etherum are superior.
The elites hate crypto.
Don’t make declarations out of your ignorance.
A digital currency is what Klaus Schwab wants, and apparently you do as well.
You’re grossly misinformed. True cryptocurrencies like Bitcoin can not be inflated. That’s the whole point. It’s the only sound money because it’s guaranteed by math
...and based solely on your full faith & credit in the US.gov fiat.
If sitting on an actual cash pile, convert it into hard goods*, pms & land.
*Tools, guns, ammo, building supplies, durable clothing & footwear.
Crypto? I have nothing except suspicion and that it will get increasingly tougher to convert your gains into tangible money without taxation or jail, by design.
The one time in my life being happy about not having much money....