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Cryptocurrency peddlers only have two arguments: fiat currency has no value, and bitcoin is gonna 10/100x in its fiat currency value. Well, which one is it? If
by namaria 2y ago
Cryptocurrency peddlers only have two arguments: fiat currency has no value, and bitcoin is gonna 10/100x in its fiat currency value. Well, which one is it?
If a group of people has all the bitcoin in the future, and other people have possession of things they want/need... Well, the value of bitcoin will be zero unless you can compel people who possess actual useful and necessary things to accept it. Which you can do if you are a government with power of taxation. It actually has negative value, because you need the computers running the software that represents it to keep running.
I really cannot figure why people think bitcoin is special. The value of money comes from the power of taxation, not from the underlying representation of the money.