4 ms·
What would drive a currency with no demand? Money almost always ends up as a commodity itself (gold/silver/ramen packets/cigarettes), commodity backed, or as a
by beaglesss 2y ago
What would drive a currency with no demand? Money almost always ends up as a commodity itself (gold/silver/ramen packets/cigarettes), commodity backed, or as a token to prevent the state from tossing me in a tiny cage.
In most crypto, the commodity isn't very clear. I attribute it's rise largely to the tax authorities and the FATF snuffing out anonymous banking and bearer shares and most high denomination notes around that time, creating massive demand for an alternative that crypto largely fills.