Quote:
Originally Posted by pyroguy
You're missing the point. If I asked you for a dollar you could hand me a dollar bill, 4 quarters, 10 dimes, 20 nickels, 100 pennies, or any combination of the above. If I asked you for a dollar equivalent of Bitcoin what would you give me? There's zero that you can physically give me. Additionally, if people requested the US government to pay their debts and they ran out of money, highly unlikely I know but theoretically possible, they could trade gold, property, buildings, or other assets to satisfy their debt. Crypto, if you lose your password or your hard drive crashes you're out all of your money. There's nothing to back it up or counter it. There's nothing that can physically be there to pay off a debt. Crypto is virtual money with ZERO root other than "look at me, my computer says I have money".
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If you asked for a dollar I could pull out my trust wallet and send you a dollar in Bitcoin, or USDT Stable coin which you could view on the block chain as YOURS.
Just because it's not tangible doesn't mean it's not real. You loose a $100 bill or a $100 scratch off you are out money same as losing your wallet passphrase.
There are three functions of money: Medium of Exchange, Unit of Account, or Store of Value. Cryptocurriences check all those boxes, in addition to having scarcity which FIAT does not.