The bottom line is that all crypto is fiat with gimmicks at the end of the day. The only value it has is the perceived value. While with the USD you have a government body proclaiming it’s value, along with a vast network of businesses willing to honor its value with goods and services, with crypto you have a patchwork of individuals - mostly crypto hoarders - proclaiming it’s value, with very few legitimate businesses actually accepting the currency.
If you have the spoons, you should watch this full breakdown. It covers both crypto and NFTs in-depth.
Does the US government really make the value of the US dollar? When inflation was out of control in Mexican America, the US government had a lot of trouble stopping it.
The bottom line is that all crypto is fiat with gimmicks at the end of the day. The only value it has is the perceived value. While with the USD you have a government body proclaiming it’s value, along with a vast network of businesses willing to honor its value with goods and services, with crypto you have a patchwork of individuals - mostly crypto hoarders - proclaiming it’s value, with very few legitimate businesses actually accepting the currency.
If you have the spoons, you should watch this full breakdown. It covers both crypto and NFTs in-depth.
Does the US government really make the value of the US dollar? When inflation was out of control in Mexican America, the US government had a lot of trouble stopping it.