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Non-Tech : Kirk's Market Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Sun Tzu who wrote (14949)	12/21/2022 2:29:12 PM
From: Hank Scorpio	Read Replies (1) \| Respond to of 26490

I don’t agree that it’s a fiat currency. Fiat is basically a derivative of something of tangible value. This is what I mean. Crypto doesn’t have this. I suppose one could argue that it’s a new paradigm and it has value because people accept it’s value. I can’t buy into that. I’ve seen currencies and stocks, supposedly backed by some of the strongest economies or earnings streams have their valuations questioned and seen those valuations go to zero at times. I don’t see how crypto currency can escape anything else when the valuation questions mount in the face of economic or political instability. In a nutshell I feel that the very thing touted as bitcoins strength is perhaps it’s most glaring weakness.