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I was having a couple of beers with old friends yesterday and somehow the topic of crypto came up.
My friends don’t know I’m ball deep in here, and they started talking crap about how Bitcoin and crypto all together doesn’t have any intrinsic value and is purely based on speculation and hence is doomed to fail.
I heard all their bullshit but didn’t put my point forward lol .
But honestly I feel the thing with bitcoin is that it doesn’t need to have an intrinsic value. It represents the free market where the value of Bitcoin is dependent on how much people want to pay for it and can’t be manipulated , unlike Fiat it’s not being forced upon and printed incessantly.
With recent cases of hyperinflation in multiple countries shows how Fiat can turn into dirt overnight . For example in Argentina people are exchanging garbage for essentials instead of fiat https://www.reuters.com/world/americas/turning-garbage-dumps-survive-argentines-feel-pain-100-inflation-2022-10-13/.
Looking forward to hear more arguments on the same.
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