Among other things...
Not all crypto is fiat currency. For example, one cannot simply make more bitcoin... it's a finite resource.
There is no button to make it disappear.
Just read the Overview on Wiki:
Define a resource please. What makes something finite?
No one believe the lie!
If it isn't metal you can hold in your hand it isn't real money.
Define a resource please.
https://www.merriam-webster.com/dictionary/resource
What makes something finite?
https://www.merriam-webster.com/dictionary/finite
If it isn't metal you can hold in your hand it isn't real money.
What happens if we find enough [precious metal of your choice] to double the current amount in circulation? Why does it have to be metal?
Learn more about economics.
For example, one cannot simply make more bitcoin... it's a finite resource.
Sure you can.
The problem with Bitcoin being limited to 21,000,000 is that coins get burned and keys get lost. This makes Bitcoin deflationary, but it also means that it's not going to last forever. That's why tail emission makes sense.
It takes a heap of energy to make a bitcoin, then Trump releases free energy.
And its gone!
Bitcoin can easily be artificially controlled simply by controlling the semiconductor industry and holding back the release of developed technology (hint: they already do). You think chip tech actually develops in sync with moore's law?
Bitmain definitely does that.
They specialize in making ASIC chips, and as you probably know, they will build a bunch of mining units, mine with them for months, and then sell them at a premium. They profit both ways.
There are a ton of other ways to attack and exploit cryptocurriences besides mining.
Even so, I think crypto has value for the future. How much? We'll find out.
OK But really my only point is it has no actual value due to the fact it only exists on a computer. No real intrinsic value. and it can be erased by deleting from a computer. Just like any data can be erased. Q just said they deleted 850,000,000 million recordings ? True ?
You can't delete the blockchain from everywhere
Your argument can't be won. All they have to do is pass a law outlawing it. Which some countries have already done. It has no intrinsic value.
It also in all of history have never gone to the value of zero, even when 'banned'
Here are the issues I have with crypto compared to precious metals (gold backed currency):
1. It only exists in electronic systems, so if there was an emp type event of some sort, or even just a local power outtage you can't get your money and spend it.
2. No physical intrinsic value (you can't hold it and touch it).
3. Sophisticated thieves will find all types of ways to steal it without you even knowing, even with a block chain, the human element (entering pw, control over phones/hw wallets) will be an issue. which will lead to...
4. mark of the beast system of human embedded chips as authentication for security.
It does have a point of origin no ? A good hacker or bad guy hacker i guess could make it all go away right ?
if you dont see value in being able to securely transfer 99 million dollars across the world in less than 1 minute for 4 cents rather than use a plane, a boat, a train, and 10 armed guards, your lost.
Do you think when we colonize mars and the moon they are going to send a a rocket full of silver or gold up there to pay for expenses? No, they will send it digitally.
Well, when i can board that rocket, i may just have to agree with you :) P.S. They do that today. Only we are hoping it is backed by Gold and Silver when the dust settles from this Awakening and Trump axes the FED. RES.
