[benoketamad]

Well, fiat money has no backing whatsoever. A while ago the USD was backed by gold, nowadays it is backed by faith, just like any other fiat currency.

Let this sink in: crypto is money that is backed by energy. Finally a money that is backed by some tangible thing. The systems providing it might be suboptimal, but the basic premise, that this is finally backed by a universally accepted thing, energy, is absolutely perfect.

Just like coal is concentrated sunlight, crypto money is concentrated energy.

Thassal.

[FridgeSeal]

Unfortunately I think I'd still prefer to have the energy, rather than the imaginary internet tokens, because once again, at least the energy is...useful.

[mattwilsonn888]

Its comforting to know the loudest critics refuse to face facts. That is actually how I predicted the run up to the last bull market - when the critics resorted to old or ignorant arguments. Have you heard of Chesterton's Fence?

[FridgeSeal]

> That is actually how I predicted the run up to the last bull market

That’s nice for you I guess?

> Have you heard of Chesterton's Fence?

I have, but this comes across as a slightly more sophisticated version of the fallback that’s often resorted to by defenders of crypto: if in doubt, claim that your opponents “simply don’t get it” or just proclaim “have fun being poor”. We understand crypto too, we’re just not convinced.