If you burn down a library do the books still have any value?
The thing is, if I have a pile of gold coins, and a bunch of crypto in a private wallet on a hard drive and the house those things are in burns down, I’ll still have the gold. It just won’t be in coins.
All of that is kind of pointless because again, both of these things are terrible investments. You’re quite astute to point out the flaws in gold but what’s incredible is that you fail to see those same flaws, using the same logic, apply to crypto only in a more exaggerated form.
If you’re worried about the dollar collapsing, crypto will not save you from that, any more than a pile of gold will. Do you think the banks will just lock their doors one day and everyone will still go to work in the morning? Do you expect that trade will still function in a normal, civilized way?
Crypto is built on so many dependant layers of technology that if the dollar collapses, crypto will be as valuable as a library on fire.
I answered your question so maybe you’ll do me the honour of answering mine.
If someone breaks into your house and steals your gold coins, what value do they have to you?
If it burns down, how much will it cost to recoup all your gold back into a manageable, tradeable form?
If you burn down a library do the books still have any value?
The thing is, if I have a pile of gold coins, and a bunch of crypto in a private wallet on a hard drive and the house those things are in burns down, I’ll still have the gold. It just won’t be in coins.
All of that is kind of pointless because again, both of these things are terrible investments. You’re quite astute to point out the flaws in gold but what’s incredible is that you fail to see those same flaws, using the same logic, apply to crypto only in a more exaggerated form.
If you’re worried about the dollar collapsing, crypto will not save you from that, any more than a pile of gold will. Do you think the banks will just lock their doors one day and everyone will still go to work in the morning? Do you expect that trade will still function in a normal, civilized way?
Crypto is built on so many dependant layers of technology that if the dollar collapses, crypto will be as valuable as a library on fire.