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/Fiat Money?
Less than 10% of "Money" in terms of what people "think" is there; has actually been printed or minted.
Most modern economic systems are based on Fractional Reserve Banking where Money is as Fictitious and Non-Tangible as Bitcoin.
You think when you get you're $500,000 mortgage loan from Bank of America, that $500,000 Check actually has the cash to back it?
It's the same smoke and mirrors as cryptocurrencies.
Cheers!
Strato