So we have a currency backed by no government or physical assets now worth a $1 trillion. What did P.T. Barnum say about suckers again? One goofy event shakes the confidence of the people who own this currency and poof, its gone.
Government currencies may be the problem and could now be facing the truth-telling of the market.
Cryptocurrency value is based on what the holders are willing to trade it for and each cryptocoin can be traced.
-Dollars can be overprinted.
-Dollars can be counterfeited.
-Dollars can be devalued.
-Dollars are not backed by physical assets.
-Dollars are issued by a government that has printed more and more funny money, is $28 trillion in debt, and has over $160 trillion in unfunded liabilities.
-The government can (and has) signed on to other debts that dollar holders would not be aware of, much less able to control.
Bitcoin is not increasing in value - the dollar is dropping...just like it is against gold.
Sounds like sour grapes.
Too bad you didn’t get in when others did.