Crypto or Cryptocurrencies have become increasingly popular in recent years. But in their current form, they have a massive and potentially terminal flaw: Today’s Cryptocurrencies are worth ZERO.
Today’s Cryptos work on the same basis as the FIAT Money system that they were intended to side-step.
The value of Cryptocurrencies is based only on what anyone believes.
For many of us, this is a very difficult message to understand. We only have to look at news in the media that suggests Cryptos such as Bitcoin are worth tens of thousands (x10,000) of £Pounds, $Dollars or the equivalent in many other currencies or monetary terms to see what people think they are worth.
Yet Cryptocurrencies are not tied to anything of value. They do not have anything of value linked directly to them. Even the arguably sensible idea of only creating a limited or finite number of them doesn’t answer the fundamental questions or realities of what a currency or any form of money is, and how they should really work.
Money is a unit of exchange. Money is a value transfer tool. Money is a medium and nothing more.
Money has become the benchmark that is set against everything in our lives, because making us believe that its value is real has benefitted someone else’s greed for wealth, power and influence in some way.
With the FIAT Money system about to collapse, we are all going to go through the process of realising the real value of the things that we genuinely need, as opposed to the things that we want.
That process will lead to us rediscovering what the real value of money and any form of currency really is.
When money or currency of any kind can no longer be used to buy anything, either because we simply don’t have enough of it, it’s not tangible, or because what we need is not available to buy, circumstances will force us to appreciate what the value of the things that we need really is.
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