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.
Value is subjective. That fiat can be burned doesn't give it value. A twig on the ground has more utility in that regard. Crypto's intrinsic value is that it is safe from government and can be used anywhere in the world regardless of borders instantaneously without a middle man. There has never been a currency that offered so much freedom. What is your alternative? Gold? The government can and has confiscated that in the past. They can't confiscate the blockchain.
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.
Value is subjective. That fiat can be burned doesn't give it value. A twig on the ground has more utility in that regard. Crypto's intrinsic value is that it is safe from government and can be used anywhere in the world regardless of borders instantaneously without a middle man. There has never been a currency that offered so much freedom. What is your alternative? Gold? The government can and has confiscated that in the past. They can't confiscate the blockchain.
^^ somebody who has OBVIOUSLY never sought understanding on the subject.