They are only backed by faith until they demonstrate utility and become widely used, no?
Nope, they are still backed by faith at that point. The dollar has been completely unbacked for 50 years. It has been extremely useful all that time, not just in the US, but really as the world's currency. It could very well lose all faith this year. This would not be the first time such a thing has happened. In fact it has happened multiple times (Germany after WW1, Venezuela, Mexico, etc., etc.).
Kind of why I prefer to use "digital assets"
If it isn't backed by anything, its an asset exactly up until the moment someone at the top decides it isn't. It has even less footing than the dollar because many fewer people are invested. And the dollar is ripe for complete collapse.
But digital assets are the future and getting in early on the correct choices will create generational wealth for many people.
And I am suggesting (and giving arguments for) there being not a single one that will have value in the future that is not backed by a physical asset.
In other words, I am giving arguments for why I think ALL current cryptocurrencies that aren't backed by physical assets (which aren't good investments unless the physical asset is also) are foolish investments (likely by design of the people in charge of the Great Reset).
All the money that goes into these faith backed cryptos is money not taking away from their REAL assets of physical gold and silver (which is where their real power lies).
They are only backed by faith until they demonstrate utility and become widely used, no?
Nope, they are still backed by faith at that point. The dollar has been completely unbacked for 50 years. It has been extremely useful all that time, not just in the US, but really as the world's currency. It could very well lose all faith this year. This would not be the first time such a thing has happened. In fact it has happened multiple times (Germany after WW1, Venezuela, Mexico, etc., etc.).
Kind of why I prefer to use "digital assets"
If it isn't backed by anything, its an asset exactly up until the moment someone at the top decides it isn't. It has even less footing than the dollar because many fewer people are invested. And the dollar is ripe for complete collapse.
But digital assets are the future and getting in early on the correct choices will create generational wealth for many people.
And I am suggesting (and giving arguments for) there being not a single one that will have value in the future that is not backed by a physical asset.
In other words, I am giving arguments for why I think ALL current cryptocurrencies that aren't backed by physical assets (which aren't good investments unless the physical asset is also) are foolish investments (likely by design of the people in charge of the Great Reset).
All the money that goes into these faith backed cryptos is money not taking away from their REAL assets of physical gold and silver (which is where their real power lies).
They are only backed by faith until they demonstrate utility and become widely used, no?
Nope, they are still backed by faith at that point. The dollar has been completely unbacked for 50 years. It has been extremely useful all that time, not just in the US, but really as the world's currency. It could very well lose all faith this year. This would not be the first time such a thing has happened. In fact it has happened multiple times (Germany after WW1, Venezuela, Mexico, etc., etc.).
Kind of why I prefer to use "digital assets"
If it isn't backed by anything, its an asset exactly up until the moment someone at the top decides it isn't. It has even less footing than the dollar because many fewer people are invested. And the dollar is ripe for complete collapse.
But digital assets are the future and getting in early on the correct choices will create generational wealth for many people.
And I am suggesting (and giving arguments for) there being not a single one that will have value in the future that is not backed by a physical asset.