Cryptocurrencies are not like other forms of money. They don't have intrinsic value. Cryptocurrencies are only valuable insofar as they are well distributed.
What did the banks win? The nerds of the world sold them fool's gold.
What intrinsic value does other forms of money have? It's at best a promissory note which can freely be devalued by the promises.
2008 and the subsequent QE demonstrated that surely? Look to Argentina, Zimbabwe and numerous other periods of time and countries for when the value of money became frankly worthless relative to it's previous value.
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Cryptocurrencies are not like other forms of money. They don't have intrinsic value. Cryptocurrencies are only valuable insofar as they are well distributed.
What did the banks win? The nerds of the world sold them fool's gold.
What intrinsic value does other forms of money have? It's at best a promissory note which can freely be devalued by the promises.
2008 and the subsequent QE demonstrated that surely? Look to Argentina, Zimbabwe and numerous other periods of time and countries for when the value of money became frankly worthless relative to it's previous value.
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