[ARGLOCKGUY]

Neither does any other fiat currency.

[SauronOfMordor]

Paper money has no intrinsic value either, as the citizens of Weimar Germany, Zimbabwe, Venezuela, and other places discovered.

[Jonty30]

I believe cryptocurrency are just traps to get people to give up their wealth.

The smart ones will play the game well and get out before it all disappears.

[Flavious_Maximus]

“They have no intrinsic value.”

You could say the same for ANY fiat monetary system. How much value is a Zimbabwe dollar? Any currency controlled by central banks and the printing press is only worth what people trust. The paper itself, has no real value.

[PGalt]

elon might disagree

https://mobile.twitter.com/elonmusk

[babble-on]

FIAT money is bad, because it’s only backed by the taxing power of the state, and thus by the nation’s wealth that it represents.

Crypto is good, because it’s backed by nothing whatsoever.

[KarlInOhio]

How many pounds of sterling silver is the pound sterling now worth?

[SunTzuWu]

40% of all US Dollars in existence were printed in the last 12 months.

[lucky american]

All based on internet access. You cannot touch crypto currency or hold it in your safe. If a nuclear bomb hit Washington, and chaos ensued, you have nothing. If Venezuelan type inflation hits and food becomes scarce, you’re surely not going to pay your internet bill before you buy bread.
Don’t think it can’t happen here.

[Steven Tyler]

Lemmie understand this.
I convert my wealth to bitcoin.

When the internet is down, or the power is out, I cannot spend any bitcoin

[T.B. Yoits]

When you "invest" in a fiat currency, willingly or unwillingly, you're holding money with serial numbers. The money printers promise you that they're difficult to counterfeit so you don't have to worry about duplicate serial numbers. (Yet they're counterfeited all the time, mostly by hostile nations but also by the issuing nation when sending billions to foreign terrorists such as Iran).

The money printers do NOT ensure they won't print more money with new serial numbers that devalues your fiat money. In fact, they're printing more all the time. The value of your fiat money is what the printers say it is by adding or removing some from circulation.

Cryptocurrencies on the other hand promise you a distinct serial number that's difficult to counterfeit since each transaction tracks the serial number (unlike transactions with bills). Cryptocurrencies offer a fixed number of digital "coins" or at least a schedule of how long it takes to "mine" new ones and how many might be added. The market then determines the value of each "coin".

Governments fear cryptocurrencies because they can peg just how far off their fiat currencies are.

[Jim Noble]

I agree.

The morning they open the sealed indictments that accuse BTC and the others of money laundering, and the arrests start, it all goes to zero.

[Louis Foxwell]

Nor does paper fiat have intrinsic value. So??

[Uncle Miltie]

You get to keep all your dollars.

They’ll just be worth.less.

[RinaseaofDs]

The irony of that statement. I have more faith in crypto than I do fiat.

Between Johnson reneging on Bretton Woods and Nixon going off the gold standard, it was only a matter of time.

Were I Russia, I would have looked at cheating on Bretton Woods as an act of war. One Treasury Secretary actually famously said, “It’s our dollar, and their problem.”

So stupid.

[CryptoBull]

“The government of Egypto, through it's Egyptian Customs Authorities has made mandatory Advance Cargo Information declarations with is new Egyptian Customs law #207 for all cargo inbound to Egypt starting July 2021” - In other words, a small crypto company by the name of CargoX that provides digital document services and Bill of Lading on Blockchain will provide this service for for Bill of Lading originating out of Egypt. As everyone screams that crypto is DEAD and worthless, 2021 is bringing more adoption than ever seen before. Some people will post articles here next year about Bitcoin going dead while their local taxes will be accepting crypto payments. Some of you guys can't see what's right in front of your face. Adoption. It's happening no matter what some Banker in Europe says.

[Jane Long]

Their great reset requires crypto to be destroyed. Can’t have any workarounds, ya know.

[Presbyterian Reporter]

The same can be said of the Pound Sterling.

[riri]

Strange, how many corporations are now holding BTC on their books?

Several banks are slated this year to allow BTC accounts.

Paypal takes btc.

Oakland As just starting take Doge coin in their merchandise stores.