4 ms·

"Nothing underlying it" is a pretty good description of crypto tokens in general.

• jesusthatsgreat 3y ago
  Or fiat currency in general. Let's not pretend modern fiat is backed by something solid. The only thing backing it these days is the promise of our grandchildren & their grandchildren being good to pay back debt, eventually.
  • davedx 3y ago
    Aircraft carrier groups seem pretty solid to me
    • defrost 3y ago
      https://www.usni.org/magazines/proceedings/2010/january/fortress-sea-carrier-invulnerability-myth https://www.usni.org/magazines/proceedings/2010/january/fort... Regularly sunk in joint exercises and simulations: https://theaviationist.com/2015/03/05/us-aircraft-carrier-sunk-by-subs/ https://theaviationist.com/2015/03/05/us-aircraft-carrier-su... https://www.eurasiantimes.com/entire-us-carrier-battle-group-13000-personnel-were-sunk-to-bottom/ https://www.eurasiantimes.com/entire-us-carrier-battle-group...
      • davedx 3y ago
        OP claimed "nothing solid", not "not backed by invincible firepower", but keep shifting the goal posts if it makes your bitcoin losses feel better!
  • whateveracct 3y ago
    The US has been continuously paying back its debts. It isn't hypothetical that we have been for decades, so it isn't "only" a promise.