Ferrari has started to accept payment in cryptocurrency for its luxury sports cars in the U.S. and will extend the scheme to Europe following requests from its wealthy customers, its marketing and commercial chief told Reuters.
Maybe if btc left the realm of fiat and could stand on its own you would do fine. Until it’s not weird-digital-fiat though, it’s a lot further from real than fiat.
Now there are country backed currencies that are a degree from real too— those that are converted to USD for international transactions. But they still sustain themselves within their spheres. Crypto has a few of these spheres too, one supposes, but they’re small enough to make crypto one of the least real things in term of inherent value.
It’s unreals all the way down though. Even if USD was still backed by gold, that stuff is just shiny fake value to the vast majority of people. But at least it’s a physical object with actually interesting/useful properties of its own
Yes. Again its simply trust in getting something in return.
If I would have to pay my every day needs with btc I would starve to death I think.
But also fiat is just a believe of enough people. From that, not worth the paper its printed in.
Maybe if btc left the realm of fiat and could stand on its own you would do fine. Until it’s not weird-digital-fiat though, it’s a lot further from real than fiat.
Now there are country backed currencies that are a degree from real too— those that are converted to USD for international transactions. But they still sustain themselves within their spheres. Crypto has a few of these spheres too, one supposes, but they’re small enough to make crypto one of the least real things in term of inherent value.
It’s unreals all the way down though. Even if USD was still backed by gold, that stuff is just shiny fake value to the vast majority of people. But at least it’s a physical object with actually interesting/useful properties of its own