Crypto is no different to FIAT currency in terms of value

There’s a lot of stigma around cryptocurrency and how it’s a fake form of currency. “There’s nothing there, how can nothing have any value?”

It’s funny, CEOs of big companies, big banks and even leaders of entire nations have come out and said similar things over the years (Although many of them are starting to change their tune in a laughably short period of time). It’s amazing what $$$ signs will do to someone’s mindset or stance on a topic.

Anyway, the argument that crypto holds no value because it’s not real is a farce. Let me take you back to a time where currency as we know it didn’t exist.

If I had 5 bundles of hay and needed some food for my family, I may take my hay to a farmer and offer up a trade. 5 bundles of hay gets me 12 eggs. Great! Oh but now I need some fabric so to get some of that I’ll have to go and work in the fields for a few days to get enough to clothe my children.

Boy I sure hope I don’t need anything else after this because it’s a nightmare having to perform all these tasks and acquire all these things for trades…

But along comes a genius who says we could put an end to all this and use scraps of metal as currency. Sure the scraps hold no inherent value on the face of it but ultimately they can serve as a universal measure of worth and act as a general token to exchange for other things. The poor guy is laughed out the door because who wants to swap 5 bundles of hay for a few scraps of worthless metal?

Hundreds of years roll by and all over the world this idea has gained traction because ultimately it’s actually a really good way of doing business. Who’d have thought it? Now you can go to a farmer with a few scraps of metal instead of 5 massive nails of hay and get your 12 eggs!

Roll the clocks forward to around ten years ago and another person has a similar vision, only this time it’s digital. Again, this person is laughed out the door. Who would want to give anyone anything for some fake tokens in an ethereal world??? The only difference is that this time it’s only taken 10 years for the world to succumb to the reality of crypto being very useful. The big boys are far too humble to admit that their initial views were outdated and close minded but they are now all scrambling to get as many pieces of worthless digital scrap metal as the rest of us.

It reminds me of the Alexa light switch analogy I use occasionally. I like to use Alexa for various smart home applications including turning on lights at home. Some friend of mine ask “why don’t you just use a switch?” I say “I could, but I could also just use a candle instead of a light, but this is more convenient for me”.

PS, it’s 3am and I can’t sleep, this is the only thought my brain can summon so I slapped it on Reddit. So tired!