80,000 Bitcoin millionaires are wiped out.
(cointelegraph.com)
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I understand crypto. Do you understand money?
https://www.milesfranklin.com/the-seven-characteristics-of-money/
Hardware wallets sealed inside waterproof storage seems durable enough.
Cryptos are divisible by whatever integer the developers program. Much more divisible than the dollar.
Cryptos can be carried on a person, and transported easily across borders. They are far more convenient than gold and silver.
Consistency is difficult when we still exist in the Khazarian economy. All markets are inconsistent while the Mafia continues their manipulation of all global assets and currencies. Gold and Silver are equally susceptible to this manipulation.
Return to my post above and read what I wrote about use case. Many cryptos derive their value from the function they provide in the digital world, and the ecosystem that enables that function.
Consider this analogy: Cab drivers are valuable, no? They transport an individual from one location to another. That transportation is not something that can be transacted. It must be given a value, and be traded for with an asset. A dollar amount can be given to the cab driver who will then provide their function of transportation to you.
Take that concept and apply it to data streams on the internet. Those data streams are just as valuable as the cab driver's transportation function. A data stream's value is extracted from the digital space via crypto blockchains that rest as foundations for the next iteration of the internet.
All viable blockchains limit their quantity at a set amount.
We are beginning the second decade of crypto adoption. The history of acceptance will only grow from here.
All this is not to say that you shouldn't buy gold and silver. Those are still great assets to own and hold while we ride out this market crash.
I am not going to argue with you. You are making a huge mistake. You either understand or you don't.
Greed blinds people. It is sad to watch.
You misunderstand crypto. Reread his responses. I would happily help with questions. Let go of wrong and right and think of the systems. Value is agreed on, not intrinsic.
You misunderstand MONEY. You are talking about CURRENCY. It is EXTREMELY important to understand the difference.
The problem is not with the technology the problem is they are not backed by anything. Unbacked currencies are doomed to fail and are a system of control.
Learn about the importance of SOUND MONEY and FREEDOM.
I am going to jump to Qanaut’s defense here. Some of my friends and I started studying Bitcoin in 2012. At the end of 2013, we bought. We bought between $180 and $900 each.
We are all pretty wealthy now, and have, along the way, bought real estate, cars, traditional equities, metals, Rolexes, and we still have plenty of Bitcoin and some of us Ethereum. None of us messes with other shitcoins.
So, for what it’s worth, you are welcome to your opinion, but many many regular people, mostly geeky ones that got it a long time ago, got very wealthy. Maybe we’ll even be the new cabal some day!
Unbacked crypto is fundamentally flawed and will never be a successful currency. You got in early and found a sucker to unload your coins on. Good for you. Now buy some physical Gold and Silver to protect your wealth for what comes next. :)