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.
Ah, but if you can find the book in thousands upon thousands of libraries spread all around the world, has anything been lost?
Bitcoin is crypto. Crypto is not Bitcoin. I strongly encourage you to look into the history of money. What has been used as money in the past, why it was used as money…rai stones are my favorite example.
Bitcoin, if you are able to understand the mechanics of it, is the “hardest” form of money that has ever existed. History shows money always flows into the hardest asset available. It also shows what happens when that asset loses its hardness. This is why gold has been king for a long, long time.
Then along came Bitcoin (NOT crypto, there was crypto before and crypto after), and it used game theory, the internet, math, cryptography and programming to become the most elegant store of value ever invented, which is also the hardest form of money ever created.
I actually loathe Bitcoin, even if I admire it and buy it. It’s an energy nightmare. No one will ever convince me that it’s “green” in any meaningful way. And I’m a huge environmentalist. But I’m not an idiot. It’s inevitable. It’s already started. Fiat currencies are going to start inflating uncontrollably and the money is going to go somewhere. If Bitcoin is superior as a store of value to gold, and more importantly is harder than gold, it’s got a long, long way to go.
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.
Ah, but if you can find the book in thousands upon thousands of libraries spread all around the world, has anything been lost?
Bitcoin is crypto. Crypto is not Bitcoin. I strongly encourage you to look into the history of money. What has been used as money in the past, why it was used as money…rai stones are my favorite example.
Bitcoin, if you are able to understand the mechanics of it, is the “hardest” form of money that has ever existed. History shows money always flows into the hardest asset available. It also shows what happens when that asset loses its hardness. This is why gold has been king for a long, long time.
Then along came Bitcoin (NOT crypto, there was crypto before and crypto after), and it used game theory, the internet, math, cryptography and programming to become the most elegant store of value ever invented, which is also the hardest form of money ever created.
I actually loathe Bitcoin, even if I admire it and buy it. It’s an energy nightmare. No one will ever convince me that it’s “green” in any meaningful way. And I’m a huge environmentalist. But I’m not an idiot. It’s inevitable. It’s already started. Fiat currencies are going to start inflating uncontrollably and the money is going to go somewhere. If Bitcoin is superior as a store of value to gold, and more importantly is harder than gold, it’s got a long, long way to go.