It's a fake currency used to fleece low information investors through the promise of getting rich quick. This is the phase used by "whales" to demoralize people into selling off at loss. The other phase is where "whales" are making it look like it's going to the moon and everyone is getting rich. It's how money flows from you to them.
It's a fake currency
I’m curious how you define “real currency”? This response honestly sounds a lot like someone who knows nothing about something relatively new and fearing change so they hate it by default, because most of what you said isn’t applicable to the current situation at all
I understand the blockchain well enough to write my own crypto currency. Let me ask you this, what happens to bitcoin if SHA-256 gets cracked? If SHA-256 was already cracked, how would you know?
So, just answering questions with questions then? Like my point becomes worthless because you watched a youtube video on the blockchain once? You still have to define “real currency” before you can call something “fake currency.” If people perceive something to have value, then it has value as a currency. Something is only worthless if no one perceives it to have value. Crypto isn’t any more “fake” as a currency than gold or the dollar. Both also only have value because people perceive it to.
The only currency that has permanent value is something that produces something completely necessary to human life. Livestock and seeds will always have value as currencies. Obviously the value decreases when there’s an abundance, like anything else, but little else in the world has “real” or “permanent” value.
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