Wednesday, August 24, 2022

to crypto or not to crypto?

In my mind, I am able to understand why people would search for an alternative to money. And i understand crypto currency's value is different from it's secondary value in the market where it is traded. It's value should depend on its durability, portability, divisibility, uniformity, limited supply and acceptability. So meaning its value really depends on if its supply is truly limited and if it has the ability to be accepted by the merchants out there. 

The current financial sector that has engineered the current global inflation situation we are in would likely have the money to ensure that their crypto currency would be accepted widely. However, i think i would like to support a crypto currency that is not by a bank or a particular country. Having said that, how do i know who is truly behind the currency i would like support? 

hmmm.....

10 Nov 2022 - correction, there is no secondary value for bitcoin. It's value fluctuates at the moment as it finds its equilibrium. Partly because there are many skeptics out there, partly because there are many powerful people who do not want bitcoin to succeed, partly because many people are buying and selling bitcoin without knowing much about it, partly because the institutions that were attempting to discredit it is now jumping into the bandwagon and causing the fluctuation, partly because its acceptance is growing, partly because the infrastructure that support it is growing, partly because the community that wants to see it work is growing... 

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