He acted against it, so they would approve it. Now the truth is revealed. The art of the deal.
(media.greatawakening.win)
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Why is it an asset? What inherent value does it have?
You can apply the same logic to gold.
In essence an asset is something a group of people place value in.
Gold has an inherent value. It's used in electronics, jewelry, and I guess other stuff. Bitcoin was pulled out of thin air. It's not worth the paper it's printed on.
"I guess other stuff" is not a good argument.
The point is gold is just a shinny little metal that a group of people have agreed has value.
Case in point: when the first europeans arrived in the new world and saw the gold the natives had, they lost their mind. The natives in central and south America were very perplexed as to why they were willing to kill for this shinny rock.
As far as: if it's digital, it has no value argument. Everything that people agree on has value, has value. For example: years ago a friend of mine sold his World of Warcraft character for a couple of grand. Yup, a gaming character he built, for a couple of grand. Blows my mind to this day.
The "I guess other stuff" was in addition to jewelry and electronics.
Not sure where you got the "if it's digital, it has no value" part. Not from my post. But yeah, I understand that argument too. I said there was no inherent value in cryptocurrency. Heck, if you're off the grid and living off the land then I would assume you have only a few things with inherent value: water, food, shelter and heat. Though the heat part probably depends on where you live.
Crypto has many qualities of money but not all. It's can be fractionalized but it's not finite. There is an unlimited supply as long as people keep making blockchains that produce it from thin air. Can't do thatbwith gold or silver.
There is a difference between currency and money. There is a reason it's called cryptocurrency and not cryptomoney.
Trump understands that if you want to live in a free society, you need to decentralize your economy and let the people vote with their decisions/wallet.
Hence why he is against mandating vaccines/electric cars, etc but has no problem making them available for consumption. He views crypto the same way.
It's not. It's a medium of exchange or currency.
An asset is merely something you own, and crypto is something you can own.
Why does it have value? Because, like any other asset, it is worth whatever someone is willing to pay for it. I personally don't see much inherent value in a Picaso painting, but if someone is willing to pay millions, then it's a valued asset.
Don't get me wrong, I'm not some kind of huge crypto proponent, but I'm a realist that clearly sees our current Federal Reserve dollars rapidly depreciating in value, so I'm open minded about alternatives to store wealth.
People say that gold is the baseline, because 10 kilograms of gold would buy a nice house 50 years ago, 25 years ago, today, and theoretically in the future. So if we compare everything in relation to the baseline gold standard, then dollars are decreasing in value vs. gold, while Bitcoin is increasing in value vs. gold. Currently I have approx. 6% of my net worth in Bitcoin, about 5% in gold, and 10% in silver.
Wether or not Bitcoin, or crypto, evolves into a useful tool of some sort in the future isn't my concern at this point; maybe it will, maybe it won't, and only time will tell. But for now, at this point in time, for me, it's merely an asset that has served me well protecting my life savings against a depreciating dollar. To be honest, having only 6% in crypto seems too conservative, if anything.
TLDR: I'm not hyping crypto, I'm merely taking advantage of what it currently offers me.