[hackingforfun]

> It's been the same with crypto, for that matter. None of the reasonable people I know ever saw any grand value in crypto. Researching myself, it always just seemed to be a bullshit fractal.

I consider myself to be a pretty reasonable person and I think the value in something like Bitcoin is as a backup or alternative to the traditional system. Similar to how someone would invest in gold. Except Bitcoin is much easier to transfer, requires much less space to store, etc., vs gold. I think 95% of crypto is bullshit though, and there are a lot of scams.

If you look at recent bank collapses, high inflation, etc., I think a reasonable person might question how long modern monetary theory can go on like this. I'm not a gloom and doom person. I still hold fiat, haven't given up on banks, still invest in US treasuries, stocks, etc. But I think holding some in crypto and gold, etc., also makes sense.

[pavel_lishin]

I think this only holds if enough other people believe in gold or crypto as a backup system.

If I had some extra zucchini and potatoes, and you were running very low on food, it would take quite a bit to convince me that a piece of shiny metal or numbers in a distributed ledger would be worth the calories I'm surrendering.

Right now, dollars would be worth it, because nearly everyone believes in their utility, despite being a very similar faith-based currency.