The thing about money is that it only has value because we collectively agree that it does. If you have a dollar or a euro or a yuan, it’s valuable literally only because other people will give you stuff for it. There’s not really anything special about it otherwise, it’s just really useful to have some way of trading things in easily-transferable numbers
Crypto is theoretically the same in terms of what makes it valuable, except for that far fewer people agree that it is valuable and there’s much less agreement on how valuable it is amongst those who do
It is for this reason, I always say “I’m surrounded by morons. Morons everywhere. Far as the eye can see…”
Talking about those who laugh at you for saying it’s a scam. Check back with them in 5 years, and ask them how much money they’ve profited from crypto. Just don’t be surprised when they become hypocrites, and tell you to shut up about those scams.
But where’s the value in that?
The thing about money is that it only has value because we collectively agree that it does. If you have a dollar or a euro or a yuan, it’s valuable literally only because other people will give you stuff for it. There’s not really anything special about it otherwise, it’s just really useful to have some way of trading things in easily-transferable numbers
Crypto is theoretically the same in terms of what makes it valuable, except for that far fewer people agree that it is valuable and there’s much less agreement on how valuable it is amongst those who do
The money is backed by the government producing it though. Crypto is backed by opinion at best.
The value is that crypto allows you to purchase drugs on the Internet
Cash allows me to purchase drugs from a shady dude who I don’t like, but I know he won’t fuck me over.
Sounds to me like you understand crypto just fine. You can see that there’s no value, and therefore a scam. You’ve got this!
I’m surprised (but pleased) that this comment has no downvotes.
If anyone ever sets up crypto for something it’s actually good for, I’ll support it. But until such time…
It’s always felt like a scam to me, but I can’t even count the amount of people who have scoffed or laughed at me for saying so.
It is for this reason, I always say “I’m surrounded by morons. Morons everywhere. Far as the eye can see…”
Talking about those who laugh at you for saying it’s a scam. Check back with them in 5 years, and ask them how much money they’ve profited from crypto. Just don’t be surprised when they become hypocrites, and tell you to shut up about those scams.
There are two pitches to crypto: it’s an investment and it’s gonna be the new default currency.
Is plain wrong, it’s a gamble. The trading value of crypto is erratic and unpredictable. Anyone trying to claim otherwise is a scammer.
Cool, I’ll wait until then.