> Precious metals and gemstones are also physical objects with strong industrial demand, that people hope will survive a civilisatory collapse; blockchain token

> Precious metals and gemstones are also physical objects with strong industrial demand, that people hope will survive a civilisatory collapse; blockchain tokens can't even survive a prolonged power outage. Industrial demand for natural diamonds is approximately nil, synthetic ones are cheaper and have better properties. Industrial demand for gold is larger, but it wouldn’t remain that large in case of societal collapse. > Artworks are desirable because they're physical objects with a limited supply that we can use to impress our peers. Memecoin #21983 can't do that. The NFT mania (and CryptoKitties before that) have shown that at least some people are impressed by it and are willing to pay for it. I don’t get it either, but I can’t deny it’s happening. > Currencies are also backed by the physical assets of the country/countries issuing them, guaranteeing that you will find a buyer and will get value for it. Worst case, by making the country in question pull a Greece and sell you its lands. Who will give similar guarantees for memecoin #19381? Greece could not devalue the Euro unilaterally. Investors in Argentinian bonds had a different experience.