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World's richest 1% gained $40 tn in a decade: Oxfam
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this post was submitted on 25 Jul 2024
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Most assets work that way, if everyone sold Nividia stock then it would tank as well. Most things outside of food and shelter only have value due to our collective belief. Diamond and water paradox is constant in society
Is it a currency or an asset? You replied claiming it's a currency below.
I think an asset is anything that can be converted to liquid, so that depends if you think crypto is liquid or not, which probably depends on location
So you think it's an asset, not a currency?
It doesn't matter what I believe, I was referencing an economic textbook on what an asset and currency are
What do you believe it to be?
It does matter, because with respect you changed what you class it as to support your arguement. Obviously there's still discussion on how to class BTC, but my understanding is the consensus outside of crypto is it's a speculative asset.
That's also why it would be terrible as a currency, from what I understand.