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Be kind to your elders
(lemmy.world)
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this post was submitted on 18 Mar 2025
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Government currencies are backed by taxes - someone did something and gave a portion of the value of their labor to the government, represented by currency. The government then reinvests the labor into the country supposedly for the public good. This is expected to continue indefinitely and it is this cycle that gives the currency value.
Crypto companies have investors. Investors are only attracted by the prospect of growth. They have no natural revenue cycle, no way of creating value without hype and people gambling with their.money.
The exception is the value inherent in being a currency outside of the control and surveillance of the Governments. Hence all the illegal activities. As time goes on cryptocurrencies will be more regulated and controlled by government, and it will diminish that trait.
It's fucking stupid.