Money used to have intrinsic value ...

[dogtag]

Way back some thousands of years when barter was in vogue a man might trade
several stone axes for another's nubile daughter. Anything considered essential
for survival was worth something of equal value. Later on it was silver and gold,
then in 1965 it was paper and base metals, in reality absolutely worthless, but
as long as no one said as much, it was accepted. Now there's a new currency,
Bitcoin, but at over $30,000 per brass coin it would appear to be of value to
only the super billionaires - yet the article states the likelihood of it becoming
"a mainstream payment method"
Aren't we peasants thought to be the mainstream ? If not, then who is ?
So how would they make change if you bought a loaf of bread - or dare I ask ?

https://populist.press/bitcoin-ralli...or-first-time/

[dryheat]

Cryptocurrency. I had to look it up. Beyond my comprehension. It's astounding, the amount of stuff I don't know about.

[togor]

Another negative on cryptocurrency is it chews up a surprising amount of MW of electric power worldwide to crunch the numbers. Just a bad idea all around.

[dogtag]

Between a brass coin and a Tulip, it's a toss up as to who
the most gullible people were who paid enormous sums for them.

[Vern Humphrey]

Between a brass coin and a Tulip, it's a toss up as to who
the most gullible people were who paid enormous sums for them.

It's called the Greater Fool Theory. You're a fool to buy it, but you hope to find a bigger fool to sell it to.