I am new to all this crypto. I investigated Bitcoin when it was going up to $300 and believed a tangible asset would surely be a better investment so bought a few silver coins instead.
Of course, silver has languished and Bitcoin has risen to (in my mind) ridiculous heights. I could have made heaps of money ..... Oh well.
I just cant understand much of a difference from fiat. If fiat is based on nothing but electric (non-existent on a computer screen) and your wallet security, surely Crypto is based on electricity and wallet security also. I know some would bring up rarity, but banks create that artificially anyway (hence booms and recessions). When something like the above theory raises its head though, it brings up an interesting answer to how banks were planning to kick the can down the road and lessen their exposure to derivatives. Just make an even less tangible asset than money and drive the people there. Its actually a double bonus for them because gold and silver get ignored and go down because people invest in the next 'latest thing'.
Oh, and yes, I understand the irony of me getting Steem on this site :-)