| I've wasted enough time on this site explaining my position. Too few care about overcoming their own bias. However, one more time: * Yes, cryptocurrency is overvalued with respect to its current adoption. That doesn't make it a ponzi scheme, tulip mania, etc. * Yes, a LOT of people are more interested in getting rich from crypto than they are in the real benefits of decentralized finance. That doesn't mean there is absolutely no underlying utility * Yes, current volatility impairs its value as a 'currency' for most people, however this will stabilize over time as adoption increases. My nuanced opinion as to the value of (some) cryptocurrencies: Forced, un-directed inflationary monetary policy leads to wasteful spending and low standards with regards to investments. This is meant to preserve economic growth at all costs, but people refuse to consider the idea that economic growth at all costs may not always be beneficial for society over longer timelines. It somewhat makes sense in a vacuum, but not when you need to consider issues like climate change and institutional corruption. If you believe this like I do, you don't want your money to be continually devalued to prop up failing financial institutions, nor to feed multi-sector speculative bubbles, nor to prop up (by way of low interest rates) poor investments. However, the FED cannot be trusted not to devalue money to preserve short-term economic stability. In fact, people in general cannot be trusted with this. That is the value of cryptocurrency, to me anyway. It cannot be unilaterally tampered with. That is enough of a value proposition for me to prefer it over fiat. |