There are going to be a lot of people left holding the bag when people realize that cryptocurrencies have no value.
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The ability to move wealth in situations where no other way is possible
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But numbers aren't wealth
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They are, if they enable circumvention of capital controls
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But they only enable that to the extent people are interested in buying numbers. People have no independent use for these numbers
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I don't think you understand what I'm saying, bitcoin functionally has value because it allows you to walk a billion $ through US customs
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What do you do with it on the other end? Trade it to someone else who needs to do the same thing
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That's literally why bitcoin exists
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Problem: taking numbers over the border is not taking real wealth over the border. Bitcoin doesn't represent anything in particular
End of conversation
New conversation -
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Digital scarcity.
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