This thread needs more people who aren’t invested in crypto, and don’t really understand it, to come in and say it’s a bubble.
Well farkin derr.
Thing is though, the price is actually the least interesting part of cryptocurrency. It is dramatically over-valued at the moment, and despite the fact I stand to make a not-to-shabby amount of money out of it (if I play it right), I’m aware that this could be at the expense of something that really could change things up.
The international banking system is old and clunky. We now live in a global economy, yet the financial systems are all a throw back to an era before the personal computer even existed. Truth is, if we started from scratch right now and created a currency system around the technology that exists, it would look far more like bitcoin than it would FIAT currency.
If nothing else, it’s making people question ‘What is Money?’ Why / where / how is value stored and transferred, and what gives it value? Because that’s something that’s never really been challenged in the public sphere before, certainly not on this level. I mean, has there ever been a genuine challenge to the banking system?
I heard a good answer to the question of ‘What is money’ on a podcast recently. Money is trust. You trust the value, you trust the currency, you trust the bank to handle it. You also pay for this trust.
The infallibility of the blockchain system is trust, and that’s where its value lay.
Hopefully the over inflated values and spammers don’t kill it, because this sh*t is mighty interesting if nothing else.