I'm not saying you're wrong; but in a similar vein as that I only buy movies I can store on a shelf, I'm not interested in money I can't put in my pocket.
Considering that cash is no longer backed by gold or silver, it is merely fiat, and exists as currency because the government says it does. The green rectangles we exchange are of no more intrinsic value than the bits of data on the blockchain. The difference is that the US govt keeps printing trillions, so moment by moment your stack of green rectangles is worth less and less and less. And the government can seize your assets, freeze your bank account, a robber can steal your physical wallet. Crypto currency stored securely is actually far safer and more stable.
I do not disagree that there is still a lot speculation and therefore volatility around bitcoin and such. But it isn't going away, just like the internet didn't go away. Even for the people not convinced in the future of it are starting to move 1-5% of their holdings into BTC just as a hedge against inflation.
This is why you invest in crypto currency. The impending inflation from the new 1.9 trillion spending is going to be monstrous.
I'm not saying you're wrong; but in a similar vein as that I only buy movies I can store on a shelf, I'm not interested in money I can't put in my pocket.
Considering that cash is no longer backed by gold or silver, it is merely fiat, and exists as currency because the government says it does. The green rectangles we exchange are of no more intrinsic value than the bits of data on the blockchain. The difference is that the US govt keeps printing trillions, so moment by moment your stack of green rectangles is worth less and less and less. And the government can seize your assets, freeze your bank account, a robber can steal your physical wallet. Crypto currency stored securely is actually far safer and more stable.
I do not disagree that there is still a lot speculation and therefore volatility around bitcoin and such. But it isn't going away, just like the internet didn't go away. Even for the people not convinced in the future of it are starting to move 1-5% of their holdings into BTC just as a hedge against inflation.
So gold backed crypto would be better than bitcoin? https://www.goldscape.net/gold-blog/gold-backed-cryptocurrency/