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1) cash has an anti-gambling function inherent to it these days aka inflation. Unfortunately, this affects the investing decisions of millions of people rather
by neglesaks 3y ago
1) cash has an anti-gambling function inherent to it these days aka inflation. Unfortunately, this affects the investing decisions of millions of people rather than a few thousand hopeful & unsophisticated would-be investors in bitcoin et al.
2) cash has a multi-century head start from the entire cryptocurrency milieu, which has barely stepped out of the cradle.
3) Central banks and nations extract Seignorage from fiat currencies which has a recurring history of preying on the population of entire nations to keep incompetent and/or corrupt administrations and their adjacent buddies (the 0,01%) afloat, or in practice in say the USA, major corporate banks that control most of the day to day flows.