I saw this article on a different site, the guy did drop some really interesting points some were a little hard for me to understand though so I decided to bring it to this forum. A link to the article will be provided at the end of this thread.
Myth 1: Crypto is trying to replace fiat money:
Myth 2: Crypto is just for speculation:
Myth 3: Crypto is one big scam and ponzi scheme:
Myth #4: Crypto has no intrinsic value:
1. bitcoin is not to replace fiat but give an open second choice to hedge against fiat
2. bitcoin has a underlying amount thats sits below the non-zero bottom of the market which is where the VALUE amount is
the speculative markets sits ontop of this VALUE and shows the speculative PREMIUM
value was 2017 under $900 (market premium swings 900-20k)
value is 2022 under $16k (market premium swings 16-70k)
3. ponzis lock people in and only pay out a dividend/interest rate where new investors fund the interest/dividend but users cannot escape with ful value investment..
bitcoin allows people to trade openly and in full. there is no dividend/interest. just trading between users in multiple decentralised and centralised ways where there is no single "sucker" locked receptical
4. bitcoin is not TANGEABLE(physical able to hold ni hand and touch) but it has intrinsic value.
as hints in point 2.
the lowest price anyone on the planet can acquire bitcoin for where every seller refuses to sell for les and every efficient miner refuses to sell for becomes value.
this value number is actually based on physical cost of the most efficient miners.. meaning real hardware and real electric costs supporting the underlying value number