Bitcoin reaches new all-time high of nearly $67,000

[NightAntilli]

The accurate term is Bitcoin is "worth" nothing ...... since there is nothing backing it .... much like the US dollar.

I guess this is one of the "nothings" out there that is backing it...

If I had a dollar for every time I hear the same thing.

I'd prefer one Bitcoin

 

[BuckarooBonzai]

I have no doubt that Crypto will become the World's currency but not right now. Not until every Country agrees with it and has some sort of standard legal tender to back it up like Gold. But we all know how that went over the years. Governments don't want Legal tender to be out in the wild, decentralized, etc. (China comes to mind). They want to control it, control money you control the people.

With the development of AI and alike, I don't think Crypto will be decentralized in the future. I think ways were being researched in how to crack the decentralization since it's first inception.

I can see a lot of rich people making money but they too can easily crash it. I think of people like Elon Musk and Jeff Bezos, Wall Street people, etc. Right now it's too volatile for me. Perhaps maybe one day Crypto will be backed by gold.

 

[Rayneofpayne]

I didn't say that it wouldn't be a problem if a major currency fell... just that it's inevitable... hopefully long after I'm dead... Ask the people living in Germany around 1919-1930 how they felt about the collapse of the deutschemark... it wasn't fun... led to a world war...

Imagine a global currency, tied down to no single nation, that could be processed digitally without any fear of counterfeiting/duplication... wait... could that be crypto?

Was the result of sanctions from a previous world war. Once again different story.
It is not crypto, not as it is currently.

 

[Squid Surprise]

Was the result of sanctions from a previous world war. Once again different story.
It is not crypto, not as it is currently.

Your point? The reason for a currency failing is usually catastrophic... it took a failed world war to crush the Deutschmark... could you not imagine something similar happening down the road? Nothing is certain...

 

[Rayneofpayne]

Your point? The reason for a currency failing is usually catastrophic... it took a failed world war to crush the Deutschmark... could you not imagine something similar happening down the road? Nothing is certain...

No, simply because countries are too entertained economically for another world war to exist. Weapons have become too powerful to have traditional wars like WW1 or 2 from ever happening again.

 

[Squid Surprise]

No, simply because countries are too entertained economically for another world war to exist. Weapons have become too powerful to have traditional wars like WW1 or 2 from ever happening again.

I'm hopeful that you are right... but another world war doesn't have to occur for a currency to collapse... eventually, hopefully not in our lifetimes, this will happen... let's just hope it happens to someone else