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RE: Reasons to be cheerful, part 1 (long-term bitcoin analysis)

in #btc7 years ago

Crypto currencies are fiat just like paper, created from nothing with no intrinsic value. Silver and Gold are real money. It can't be created or destroyed, only transformed. If the power goes out or the internet goes down for whatever period of time, for whatever reason, cryptos are useless! You don't hold it, you don't own it.

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Without attaching meaning no currency has any value. Crypto is as useless as gold in this sense, without someone willing to exchange a product or service, it is worthless.