You take your car (gold) to me (the bank) and get a slip of paper with the text "one car" on it that grants you usage access to your car (withdraw at any time).
You come back later and your car is not at the bank, this because I sold another slip of paper with the text "one car" that grants someone else access to your car
You accept this terrible deal and goes back home, over the years more and more people get their own slip of paper and thereby a share of your car
You come back one day to use your car during a few hours time frame, and the real physical car is gone
Your paper is now digital on one single centralized server in my basement, the server has bad uptime and transactions takes days, you're being monitored and reported to the police for "suspicious transactions", and could even get your car currency locked.
Few years later, your allowance of time is now only 6 minutes as thousands of people now own shares in your car, that doesn't even exist.
Now, modern time. Someone makes a DIY car that's easy to build out of shit you find in your garage and will eventually be better than your original car. But you say no because you think it's the same sort of scam as the one you choose to stay in.
Crypto is the ultimate fiat. Totally backed by bullshit and hype.
It’ll come crashing spectacularly like dot com did.
Jokes on you if you think it can’t be confiscated.
Rofl. Ahhh insults are the go to of the incompetent.
If you don’t know how, you’ll need the thousand.
Prove it, here's fiat for you:
Now, modern time. Someone makes a DIY car that's easy to build out of shit you find in your garage and will eventually be better than your original car. But you say no because you think it's the same sort of scam as the one you choose to stay in.
Poor analogy.
Time will tell.