Post
Topic
Board Bitcoin Discussion
Re: All cryptocurrencies are worthless alphanumeric characters dressed up and sold..
by
kraterion
on 12/04/2018, 19:12:37 UTC
It is a nice and practical article. But before discovering anything, it is important to have faith on it. Though cryptos are fully virtual and intangible, it might take time to be trusted. But I hope one day it will be accepted by mass people.
Why would people trust in alphanumeric characters? We trust people, not things. Things are valuated, not trusted. They are valued by their ability to provide benefit for the owner. How can you benefit from the alphanumeric characters like 0.0001 BTC or 1.5 LTC? They are neither passwords nor some secret code or text. They are not representative of legal claims like fiat currencies. They are not tangible. So how can you benefit from such items?

Fiat currencies are just numbers too, they have value because we give value to them, that's it. If tomorrow La Garde wake up and say "Ok people from now we buy/sell services/things with bananas", you will see that fiat currencies will become just worthless numbers and bananas will have value. It's just a stupid example to say, our crypto have value because there are people out there accepting them as a payment method.
I find crypto way more valuable then fiat because, 1)we own them (we have to trust banks with fiat, we don't really own that) 2)we know every supplies, every transactions (good luck with that with fiat).
It's just the next big leap for humanity but unfortunally most people just see the speculative aspect of it.