4 ms·

Not a crypto maximalist, but Zillow and Redfin ( and lots of other "collectible" marketplaces ) are just fine, even though we don't exactly "transact using hous

• rmk 4y ago
  Houses are not intended to be a medium of exchange, and neither are they collectible... But they fulfill an fundamental need in society, so they are going to be assets that will have some value in and of themselves. At the end of the day, people find utility even with some of the collectibles you allude to, like art works, whereas in crypto there is nothing tangible, and the buyers seem to be buying on the greater fool theory for the most part. It's not as if the money is growing because of value being added and part of it being captured as a result of the investment, e.g., a stock investment, C.D., or a money market account. People seem to be more interested in it as a store of value than as a medium of exchange...