4 ms·
"Worth" I think is the key word here. Just like fiat currencies, it's only worth as much as people think it is, which is much more volatile than the Dollar, Eur
by asciimike 6y ago
"Worth" I think is the key word here. Just like fiat currencies, it's only worth as much as people think it is, which is much more volatile than the Dollar, Euro, or Yen (or Yuan).
Per the David Graeber quote on the above, "It's more a speculative commodity than a viable currency." Which is generally how I view it...
- seibelj 6y agoI would argue cryptocurrencies are so much more than simple stores of value that it (luckily) keeps a lot of rich and/or powerful people in the upper echelons of finance confused and dismissive. If they truly understood it would have been banned a long time ago.