Precisely and exactly. Money, all money, is an abstraction, agreed upon. It requires me to trust that the other millions "invested" in this agreement continue to agree. In my entire life, I've met about a couple dozen folks I'd trust implicitly and forever. With crypto, I don't even know if all those fellow "investors" are even real.…
Precisely and exactly. Money, all money, is an abstraction, agreed upon. It requires me to trust that the other millions "invested" in this agreement continue to agree. In my entire life, I've met about a couple dozen folks I'd trust implicitly and forever. With crypto, I don't even know if all those fellow "investors" are even real.
No thanks on crypto. It doesn't do anything, or produce anything. All "value" is derived from greater fools theory, i.e., one has to hope and believe there will be someone that comes along that is even more foolish, and buy the stuff off me. An asset whose growth or value requires more and more people continually piling in to increase value is called a Ponzi scheme.
As a means of transferring money, it's great. Peer to peer lending becomes possible. Transactions are simplified. Those that benefit are those handling the transactions and taking a slice. I'm fine with that. But, it's not an investment; it doesn't return anything unless it continues as a Ponzi scheme, and we know where those go.
Precisely and exactly. Money, all money, is an abstraction, agreed upon. It requires me to trust that the other millions "invested" in this agreement continue to agree. In my entire life, I've met about a couple dozen folks I'd trust implicitly and forever. With crypto, I don't even know if all those fellow "investors" are even real.
No thanks on crypto. It doesn't do anything, or produce anything. All "value" is derived from greater fools theory, i.e., one has to hope and believe there will be someone that comes along that is even more foolish, and buy the stuff off me. An asset whose growth or value requires more and more people continually piling in to increase value is called a Ponzi scheme.
As a means of transferring money, it's great. Peer to peer lending becomes possible. Transactions are simplified. Those that benefit are those handling the transactions and taking a slice. I'm fine with that. But, it's not an investment; it doesn't return anything unless it continues as a Ponzi scheme, and we know where those go.
So…my emu eggs are only good for scrambling?