Post
Topic
Board Bitcoin Discussion
Re: The simple and undeniable reason why all cryptocurrencies will collapse
by
BitChief
on 20/03/2018, 15:19:46 UTC
Galileo Galilei once said, “All truths are easy to understand once they are discovered; the point is to discover them.” Discovering truth about cryptocurrencies (cryptos) and showing that they are not money but faith based schemes that are bound to collapse, is the goal of this article. The first step toward achieving this goal is to explain why economic relations between people, where transfer of ownership rights is taking place, cannot be based on faith, and how, in that regard, cryptos differ from tangible goods and fiat money. After that, we will know what money actually is, and what it represents. Given this knowledge it will become clear why cryptos never were, nor ever will be money. The rest you can read here: https://cryptofraud.wordpress.com/

I don't think any one is really arguing that altcoins are currencies in the traditional sense, most people tend to believe they are assets and as such if they are successful their value should rise over the long term. Bitcoin is more similar to gold than fiat.