RE: "Gold 2.0" is a Pathetically Low Bar
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I don't think yield farms will keep something valuable. Yield farms to me seems like a ponzi scheme because compared to fiat, yields are ridiculous and I think someone's going to be holding the bag at the end of it all.
Bitcoin is a really elaborate ponzi scheme. It has no functional use cases, just people want it so it's worth a lot. Also since it infested a big part of the world, it can't collapse because so many things are leveraged upon it. So it's here to stay, but it's also inherently worthless.
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USD (and the stock market) is an even more elaborate ponzi scheme, and I've already explained how the main value proposition of Bitcoin is that it's impossible to counterfeit. Fiat, on the other hand, is very easy to counterfeit, especially by those who control it.
I'm more fascinated by the fact that anyone could make it this far into the game only to comment on my blog about how it's all a scam. How is that possible? Seems far more likely that you're just trolling me for a reaction.
Fiat is backed by the government which owns tangible assets and runs services. And "impossible to counterfeit" doesn't mean much if thing in question has no value.
The mining of bitcoin does not generate value. Transactions are also possible without using blockchain too. Blockchain is a solution looking for a problem to solve.
I think you've been reading too many articles from 2013.
There are historic records of seashells being used as currency.
Try explaining that fact using the same logic.
Spoiler alert: you can't.
Your logic doesn't sync up with indisputable reality.
Seashells are shiny. Can be cool to collect.
facts