Blockchains has the potential to replace every single big tech company and power everything from apps to websites, all by using the client machines instead of relying on massive data centers. It's a multi billion dollar industry and the only payment method that works is crypto because otherwise it wouldn't be a decentralized blockchain.
It's the precious metals of the digital world. It's also operating under the same principles, the supply if fixed, not just on this planet but for the whole universe. Although it's unlikely, there is always a small chance that a large lump of solid gold or silver falls down from the sky and land in your back yard.
This is wrong. Fiat is issued by a central authority and can be hyperinflated. (And historically always is). It only comes into use in the first place due to government forcing people to use it. Via legal tender laws, capital gains taxes, bank secrecy act, income taxes, and other forms of coercion. Anyone trying to compete with them has his life destroyed. See Doug Jackson of e-gold for example.
Bitcoin on the other hand, has the same properties as gold: Scarce, limited production, durable, fungible, divisible, recognizable (difficult to counterfeit), portable, minable by anyone, and without any central issuing authority.
That is why Bitcoin has gained users and increased in value. Not because some bureaucracy forced it onto anyone by dictat, but instead purely through the "invisible hand" of natural market forces. Which again, is the same as gold.
Same with crypto...
Blockchains has the potential to replace every single big tech company and power everything from apps to websites, all by using the client machines instead of relying on massive data centers. It's a multi billion dollar industry and the only payment method that works is crypto because otherwise it wouldn't be a decentralized blockchain.
It's the precious metals of the digital world. It's also operating under the same principles, the supply if fixed, not just on this planet but for the whole universe. Although it's unlikely, there is always a small chance that a large lump of solid gold or silver falls down from the sky and land in your back yard.
This is wrong. Fiat is issued by a central authority and can be hyperinflated. (And historically always is). It only comes into use in the first place due to government forcing people to use it. Via legal tender laws, capital gains taxes, bank secrecy act, income taxes, and other forms of coercion. Anyone trying to compete with them has his life destroyed. See Doug Jackson of e-gold for example.
Bitcoin on the other hand, has the same properties as gold: Scarce, limited production, durable, fungible, divisible, recognizable (difficult to counterfeit), portable, minable by anyone, and without any central issuing authority.
That is why Bitcoin has gained users and increased in value. Not because some bureaucracy forced it onto anyone by dictat, but instead purely through the "invisible hand" of natural market forces. Which again, is the same as gold.
Bitcoin is digital gold.
Very long winded without saying what is it based on... which is still nothing.