How is crypto any better than paper money? Neither are backed by anything

How is crypto any better than paper money? Neither are backed by anything.

Dumb frogposter

because paper money won't get you to the moon.

Whats the point of money when we all just die anyways. Why not die sooner rather than later?

Yes, I'm dumb. Now please answer my question so I may be less dumb

It's backed by the hopes and dreams of neets reeeeee

D E C E N T R A L I Z E D

Maybe you should start researching for yourself and come to your own conclusions. Will anything written here really change or influence your mind?

pure meme. more like slow and insecure

Isn't it funny how we shit on fiat but we still use fiat to value crypto? Yes, we use BTC to value altcoins, but we use fiat to value BTC. It's very funny that we do this!

Actually this.

It’s just to measure buying power

As for OP, mining bitcoin secures the network and actually costs resources. Therefor it is backed by something

No. It isn't.

Yes it is! I can't stop fucking laughing! HAAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA

thats saying fiat is worth the paper its printed on.
its not.

and what is the point of a commodity-backed currency if the commodity value is not backed by anything? it's all shit, man, it's all utter trash and horseshit, i think i will kill myself

You are correct, none are backed by anything.
The difference is, USD needs backing, otherwise it would be "invaded" because it is linked to oil, infrastructure, central banks etc.
BTC on the other hand, doesen't need backing because it cannot be "invaded". Unless of course you emp every single antminer on earth, including the ones in my basement.

No one said it is, that's the point of the thread. Showing OP it isn't.
BTC is because the resources it takes to create one are proportional to it's price.

What I'm saying here is, difficulty adjustment is the same as inflation, even with BTC being deflationary, you can keep rising the difficulty so that it creates an asymptote, never quite reaching the 21 million but getting infinitely closer.

Reminder that proof of work should be called proof of waste - the bitcoin network uses approx 20GWh of power, to put that in perspective that is roughly the ENTIRE CAPACITY OF THE THREE GORGES DAM, which is the highest output power generation facility in the world. It takes $8.65billion USD of buys daily to buy all of the newly mined bitcoins and to maintain the price.

and the maintenance of fiat costs nothing?

how about gold? isnt it mined by turning fertile ground into a fallout tier poisoned wasteland?

Everything is about what the people have the most confidence in, gold, silver, paper money, etc. Which would you rather have people be confident in? Something that is centralized and controlled by kike jews, or something that is completely decentralized and controlled by the will of the people?

Bbl, killing myself.

You forget the gov already has high stakes in cryptos.
That's why you see every fresh shitcoin getting pumped and god knows why. They can't leave any opening to losing power, So they insta buy any opportunity for a ponzi.
Why do you think ponzis are illegal? It's not because the gov cares about you for sure.

but there're sources of clean energy, crypto is against bankers, same people that own the petroleum and the same people that own the patents for clean energy but dont use them because they bought the oil rigs and wont allow anything else until there's not one more drop of oil

but it does work better
also, this:

Every fresh shitcoin gets a pump bc of the many P&D groups.

That’s... actually a very true statement.

Yeah, right..
A bunch of poorfag neckbeards can aquire 80% of every shit coin fresh off the oven..

Tether is backed by fiat though :^)

They're not poor anymore. They've been doing this for years now. They join together in the ICO as a group and then control the market in its earlier stages.

Money has never been backed by anything. Bro. Money was invented to keep track of DEBT. A ledger has always been there but this ledger has never been PERFECTED until BITCOIN. we used to back in caveman times keep track of DEBT in our dumb brains.