No, I completely understand it. It is not hard specie money. Know what that is? Currency is not money. Hard specie money is gold or silver coin, backed by gold or silver. Absolutely NOTHING backs bitcoin. Hyperbole has driven the "price" up.
If cryptocurrency had value backing it, it would be called cryptomoney.
Seriously how can code of one's and zero's have any value? It cannot, ever.
You might want to educate yourself on money vs. currency. Let me help.
Modern Money Mechanics.
Creature From Jekyll Island.
No, I completely understand it. It is not hard specie money. Know what that is? Currency is not money. Hard specie money is gold or silver coin, backed by gold or silver. Absolutely NOTHING backs bitcoin. Hyperbole has driven the "price" up.
If cryptocurrency had value backing it, it would be called cryptomoney.
Seriously how can code of one's and zero's have any value? It cannot, ever.
You might want to educate yourself on money vs. currency. Let me help.
Modern Money Mechanics. Creature From Jekyll Island.
Both available in pdf.
Costs are liabilities, not assets. Costs fall under the debt side of any accounting ledger.
Cryptocurrency is precisely a fiat currency. A binary code backed by hyperbole only.
It's not tangible, hence it is not real.
Cryptocurrencies are a volatile and unpredictable form of mney, hence the up and down in value.
I have spent the past 30 years transferring FRN's into tangible assets, real estate, and my real estate values have been consistently rising.
Modern Money Mechanics
Creature From Jekyll Island
Capitalist Conspiracy
Must read books to learn the difference between currencies and money.
Get ready for a major dip.
Still here, still alive.
Yes, am an old school fucker.
I possess title and deed on my real estate holdings.
I also exploited the natural resource rights on my holdings. Timber and mineral rights. I make "mail box" money now.
Allowed me to retire and am only 57. Not too bad for an old school fuck, huh?