The only reason gold has value is because people believe it has value. If nobody believed gold had value it would be a worthless rock. Things don't need to be physical to have value. The only thing that gives value to anything is people's belief.
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You're missing the point. Since gold is physical, regardless of how much people value it, it still has inherent value in that it's real. There's no equivalent in fiat or crypto.
Lol 😂 things don't need to be physical to be real or have value. Your missing the point.
A make believe object that doesn’t really exist has no inherent value. It can have value but not inherent to itself.
Think a bit harder about what value is and why physical items have inherent value opposed to fictional ones which have no inherent value.
Things don't need to be physical, to exist. Open your mind! I know it hurts to be a gold bug and miss out on a once in a life opportunity and revolution. It's sad to see the dinosaur's go extinct because they couldn't evolve.
If there’s no physical form, it’s not tangible. I know you’re excited about crypto but that doesn’t mean it’s backed by something tangible. You could replace the gold standard with the brass standard or the brick standard and it would have the same fundamentals in that it’s backed by something tangible.
Crypto is backed by nothing. Fiat is backed by promises. You can’t make a legitimate argument if you think crypto has inherent value.
Ok let's go on the brick standard because the internet, cyberspace and cryptocurrency don't exist and are not real. Lol 😂
What tangible item is cryptocurrency backed by?