RE: Crypto currency and its future27 May 2021 20:17
Umeed, You hit the nail on the head when you compare fiat currency to bitcoin. Both have no intrinsic value, ever sense fiat currency stopped being backed by gold. The difference is fiat is backed by governments. Bitcoin is driven not just by greed, but by an anti government/ banks etc attitude, which is unfortunately quite common with some young people. Fortunately still a minority, but its very insidious, & very dangerous. But governments & banks, which are far from perfect, but far less corrupt than Bitcoin, will just make it illegal if it goes too far, & then there will be a lot of big losers. The reason they are standing back is mainly because they don't want to alienate the young even more. If you want to try to understand the cult mentality of bitcoin investors, just go on to cryptocompare, but if you try to post anything neg, you will be shot down in flames. At least with the tulip bulb mania, it become clear that you cant get rich owning tulips.