Fiat currency and cryptocurrency have no inherent value. A gold-back currency does because there's a physical good it can be exchanged for. While the value of gold can change, it still has inherent value in that it's a tangible asset. The difference between cryptocurrency and regular government-back fiat currency is that governments don't guarantee cryptocurrency.
This lack of guarantee means that crypto is extremely unstable, but it doesn't have to be. A corporate backed crypto could be almost as stable as a fiat currency, though it's next to impossible to get as stable as the US dollar.
The only reason gold has value is because people believe it has value. If nobody believed gold had value it would be a worthless rock. Things don't need to be physical to have value. The only thing that gives value to anything is people's belief.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
You're missing the point. Since gold is physical, regardless of how much people value it, it still has inherent value in that it's real. There's no equivalent in fiat or crypto.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Lol 😂 things don't need to be physical to be real or have value. Your missing the point.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
A make believe object that doesn’t really exist has no inherent value. It can have value but not inherent to itself.
Think a bit harder about what value is and why physical items have inherent value opposed to fictional ones which have no inherent value.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Things don't need to be physical, to exist. Open your mind! I know it hurts to be a gold bug and miss out on a once in a life opportunity and revolution. It's sad to see the dinosaur's go extinct because they couldn't evolve.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
If there’s no physical form, it’s not tangible. I know you’re excited about crypto but that doesn’t mean it’s backed by something tangible. You could replace the gold standard with the brass standard or the brick standard and it would have the same fundamentals in that it’s backed by something tangible.
Crypto is backed by nothing. Fiat is backed by promises. You can’t make a legitimate argument if you think crypto has inherent value.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Ok let's go on the brick standard because the internet, cyberspace and cryptocurrency don't exist and are not real. Lol 😂
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
What tangible item is cryptocurrency backed by?
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit