Will Cryptocurrencies have a long life? A personal reflection


This morning in several online newspapers I read the news that the Kosovo government has banned the mining of cryptocurrencies because of the energy crisis that country is passing.

When I have read the news for the first time I thought: "What?"

I immediately looked for confirmation on other news sites and agencies where I found confirmations.

Numerous articles that have also appeared here on Publish0x have often focused attention on comparing BTC (and cryptocurrencies in general) with traditional assets such as gold.

I think that gold and BTC might be not compared as they are deeply different.

Gold has many flaws but it is a real object.

Cryptocurrencies are virtual, not real objects, even if they have acquired more and more intrinsic value and popularity, so much so that even the mainstream newspapers talk about them. However, their existence is based on some non-demonstrable postulates:

1) the web will continue to exist in the future or it will be replaced by something with the same function: no web no blockchain;

2) electric supplies will be guaranteed in the future. Without any energy to make computers (smartphones, tablets, etc.) function blockchain cannot be upgraded.

For these reasons I think that the question of whether BTC or gold is better should not be asked as they are completely different things, based on different assumptions or postulates.

 

 

How do you rate this article?

11


lemming
lemming

I am Italian, over 50, interested in many things: geology, science fiction and cryptos


Reflections about the past, the future and the now
Reflections about the past, the future and the now

Observing what's happen around us: trying to unpuzzling what is puzzling

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.