Re:Coffeezilla, a YouTuber Exposing Crypto Scams
by polygamous_bat on Saturday May 14, 2022 @09:40PM
(#31384496)
Currencies rise and fall, and US dollar may as well get replaced by the Chinese yen as the world reserve currency by 2050. But that does not in any way merit cryptocurrencies, whose uselessness is independent of the failures of the US monetary policy.
Your argument reminds me of the Politician's fallacy, which goes like: "we should invest in an alternative asset in case the US dollar fails, cryptocurrency is something, thus we should invest in cryptocurrencies." Go read this thread to understand the numerous criticisms of cryptocurrencies and then think why any of the existing cryptocurrencies should be worth beyond $0 (or slightly more, I admit they are novel and thus could be a collectible).
Your argument reminds me of the Politician's fallacy, which goes like: "we should invest in an alternative asset in case the US dollar fails, cryptocurrency is something, thus we should invest in cryptocurrencies." Go read this thread to understand the numerous criticisms of cryptocurrencies and then think why any of the existing cryptocurrencies should be worth beyond $0 (or slightly more, I admit they are novel and thus could be a collectible).
[1] https://en.wikipedia.org/wiki/Politician%27s_syllogism