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kleinbl00 · 2282 days ago · link · · parent · post: Neither Bitcoin nor Ethereum are particularly decentralized
It is supposed to replace "normal" money but things haven't gone as planned. It's not like how paper money was backed by gold; the best analogy for the value of cryptocurrency is the infamous "bearer bond" beloved by screenwriters the world over. It's a thing that is worth what the person you hand it to thinks it's worth; a bearer bond that says you have one share out of a thousand in company XYZ is worth 1/1000th of XYZ. It is confusing. Your average business major banker/investor is completely and utterly flummoxed by cryptocurrency and will use any excuse they can to be dismissive of it so they don't have to pay attention.