Ten_Titans
All Mustard No Ketchup
- Joined
- Sep 6, 2010
- Messages
- 11,841
- Likes
- 30,759
What makes something have value as a currency? Two things:Is crypto like virtual cash? Something that some online somebody says you own - like DVDs etc that they tell you that you bought but don't own? Are we boomers just paranoid or distrustful, and hoarders who like the feel of something solid ... like a .45 maybe?
1) Can't be counterfeit
2) Has scarcity.
Crypto accomplishes both of these things with cryptography (math). If you like math, the explanation for how this works isn't that complicated but is pretty fascinating. There are protocols in place to ensure your money can't be stolen or copied, and I would consider it more secure than US money because it is completely decentralized. There is no "owner" of the block chain.
The primary reason I recommend buying crypto is because it is immune to hyper-inflation just like gold. Something that is going to be visiting the US dollar in the next 50 years.