That's not really how it works, if you happen to stumble on a new type of metal one day it won't instantly get as valuable as gold, it could gain value and steal some of the gold value in a couple of decades if proven to be better than gold but that certainly won't happen immediately, same thing happens when a cryptocurrency is forked, only faster since you can easily read about it, explore, verify and invest.
The fact that everyone is 'investing' in crypto is everything that is wrong with it. Money is just supposed to facilitate a medium of exchange. All crypto is doing is enabling rampant speculation and gambling. Ie dogecoin.
If you know a better way to introduce a decentralized currency to the world, speak up. Gold was also pure speculation before it became known as currency, people invested their time to search for it in harsh places.
10,000 cryptocurrencies lol. Gold would never have worked as currency if it had that many substitutes.
That's not really how it works, if you happen to stumble on a new type of metal one day it won't instantly get as valuable as gold, it could gain value and steal some of the gold value in a couple of decades if proven to be better than gold but that certainly won't happen immediately, same thing happens when a cryptocurrency is forked, only faster since you can easily read about it, explore, verify and invest.
The fact that everyone is 'investing' in crypto is everything that is wrong with it. Money is just supposed to facilitate a medium of exchange. All crypto is doing is enabling rampant speculation and gambling. Ie dogecoin.
If you know a better way to introduce a decentralized currency to the world, speak up. Gold was also pure speculation before it became known as currency, people invested their time to search for it in harsh places.