Everything, including crypto currency has value only if people trust it and give it that value, in that aspect crypto currency is no better or worse than anything we have had up to now, in reality it has nothing backing it except trust.
Everything, including crypto currency has value only if people trust it and give it that value, in that aspect crypto currency is no better or worse than anything we have had up to now, in reality it has nothing backing it except trust.
Most certainly but gold is relying more on tradition rather than trust. Given one has the technical expertise they can check how much coins they are in circulation and transact based on that. With gold we don't know how much there is around and what the real value is. When there is little information about something value is hard to build because there is no trust.