/biz/ - Business & Finance

It has nothing backing it besides the fantasy mentality that people buy lottery tickets with.

If crypto gets its value from the technology and blockchain, then it’s worthless because anyone can copy it. The Fed can make their own blockchain tomorrow for the USD and force all financial institutions to use blockchain ledgers for USD. The USD is backed by the strongest superpower and military in the world, not the imagination of wannabe cyperbunk anime NEETs.

So where does crypto actually get its value from? Speculation. Remember this in case crypto moons so that you don't forget to take your profits. There is no future for crypto. It's just a ponzi scam run on greater fool theory and wishful thinking.

Crypto was a good investment between 2012 and December 2017. Today only low IQ money is buying into it, not knowing they're just donating their fiat to the smart money whales who are halfway out the door.

If crypto were any other asset, its death wouldn't have been as protracted as it has been so far. Imagine someone trying to sell your Enron shares in 2018. But crypto is different: It has tons of people who treat it like a religion. They think because a few people in the past got lucky by buying and holding that the same will happen for them in the future as long as they blindly believe.