Bitcoin Is Neither Currency Nor Money – Chapter[2.1] R[5-10]

Reason[5]: Bitcoin has No Intrinsic Value

NgeBlog Now - Fiat so-called currencies such equally USD as well as Bitcoins receive got ZERO Intrinsic value, which agency that you lot tin non occupation them for anything else except equally a so-called partial medium of exchange. You can't swallow newspaper or bitcoins, you lot can't brand tools using them, you lot can't occupation them for whatever industrial piece of work dissimilar Gold or Silver. In their true, original, physical or virtual cast all fiat currencies receive got no inherent value except the speculative trust construct inward the eyes of the beholders.

Bitcoin fanatics fence that fifty-fifty Gold has no intrinsic value. It is only a rock that people process equally precious because of the trust people receive got construct upon it over one thousand of years. I receive got already explained how irrational this thinking is, which is a clear proof of how brainwashed as well as hypnotized bitcoin community is. Read these 10 reasons why Gold is so valuable.

Without Gold as well as Silver, bitcoin mining would receive got been only a dream!

NgeBlog Now - called currencies such equally USD as well as Bitcoins receive got Bitcoin Is Neither Currency Nor Money – Chapter[2.1] R[5-10]

NgeBlog Now - Bitcoin enthusiasts fence that, since millions of dollars are invested to mine bitcoins using expensive estimator hardware as well as electrical power. Therefore according to them, every bitcoin created genuinely has a lot of worth.

NgeBlog Now - If nosotros direct this logic, as well as so it would hateful that bitcoin itself has no inherent value. The actual value of it resides within the electrical liberate energy that is used to mine bitcoins. So without that electrical power, bitcoin becomes useless.

How tin anyone inward his mutual feel see something to receive got intrinsic value, when inward fact, it is subject on something else i.e. electrical power. Here comes the dependency issue.

During nation of war crisis (take an instance of France inward WW11 or Syrian Arab Republic today), tin bitcoins aid you lot inward absence of electrical ability or meshing (Ignoring the worst instance scenario of loosing your physical wallets)? If non as well as so reconsider your thoughts on intrinsic value because Gold did aid French Republic inward WW2 as well as it is helping Syrian Arab Republic today.

NgeBlog Now - You know why? Because Gold doesn’t depend on anything, its value can’t live manipulated or artificially implanted. It has tangible value non a perceived value as well as is the only matter that tin aid you lot inward times of need.

If something is only subject upon some other thing, as well as so it genuinely has no intrinsic value of its own.

NgeBlog Now - Yahoo Finance on 28th April, 2018, Warren Buffet said categorically that Bitcoin is goose egg to a greater extent than than a peril as well as speculation:

NgeBlog Now - “There’s two kinds of items that people purchase as well as recall they’re investing, One genuinely is investing as well as the other isn’t.”

NgeBlog Now - Bitcoin, Buffett says, isn’t.

NgeBlog Now - “If you lot purchase something similar a farm, an floor house, or an involvement inward a business… You tin attain that on a individual basis… And it’s a perfectly satisfactory investment. You facial expression at the investment itself to deliver the render to you. Now, if you lot purchase something similar bitcoin or some cryptocurrency, you lot don’t genuinely receive got anything that has produced anything. You’re only hoping the next guy pays more.”

NgeBlog Now - When you lot purchase cryptocurrency, Buffett continues, “You aren’t investing when you lot attain that. You’re speculating. There’s goose egg incorrect alongside it. If you lot wanna gamble somebody else volition come upwards along as well as pay to a greater extent than money tomorrow, that’s 1 kind of game. That is non investing.”

NgeBlog Now - — Warren Buffet

NgeBlog Now - Based on this crystal clear distinction made yesteryear Buffet, its quite clear that the entire cryptocurrency marketplace is goose egg to a greater extent than than only 1 high stakes gamble that tin give-up the ghost either way.

Reason[9]: Bitcoin Is Not Tangible

NgeBlog Now - People who empathize the concept of wealth or money believe inward the wise saying:

“You don't ain it if you lot cant jibe it”

NgeBlog Now - Bitcoin is a virtual currency as well as it has no existence inward existent or physical cast because it is backed yesteryear nothing, non fifty-fifty the bogus organized religious belief inward some government. You can’t comport upon it nor tin you lot encounter it. In other words, during fiscal crisis or nation of war crisis, bitcoin is useless without internet or electrical power.

Bitcoin is created/mined using a software technology. It exists inward digital cast as well as are stored inward digital wallets. All your economical activeness is easily traced through exchanges or wallet services. Your fate depends on a click of a button.

NgeBlog Now - What else could receive got the elite dreamt of than a monetary organisation through which they could rails minute-to-minute activeness of every unmarried person. You volition non live able to enshroud your wealth from cruel authorities taxes inward future.

NgeBlog Now - Can you lot direct to alive inward such a cashless economic scheme where your freedom as well as privacy volition live dictated yesteryear electronic scripts backed yesteryear nothing?

Reason[10]: Bitcoin Is Useless Without Electricity as well as Internet

NgeBlog Now - The greatest misconception that bitcoin users receive got is that they encounter the futurity the way its depicted inward hollywood movies similar Star Trek or Star Wars alongside flight jets instead of cars, infinite suits instead of cloths as well as mutants instead of humans. For them the futurity is all electronics, always lasting option sources of energy, no ability loss as well as no wars..

NgeBlog Now - This is precisely what the people of Afghanistan, Iraq, Syria, North Africa as well as Great Socialist People's Libyan Arab Jamahiriya mightiness receive got dreamt too...

NgeBlog Now -

NgeBlog Now - The way precious natural resources are wasted inward air to mine cryptocurrencies today is alaraming. For a 2d see the entire world beingness cashless. People trading alongside 1 some other using cryptocurrencies.

How attain you lot experience during Christmas, Eid or Diwali when you lot all rush to ATMs inward monastic tell to cash out funds as well as you lot notice that the ATM service is currently non available?
How attain you lot experience when you lot receive got to endure through hours of load shedding due to shortage of power provide during summers?
How attain you lot experience when a retailor tells you lot “Sorry sir nosotros can’t direct credit cards equally nosotros only lost meshing access..”

NgeBlog Now - I am certain it pisses you lot but at to the lowest degree somehow you lot volition grapple thank you lot to some cash savings at dwelling but how volition you lot manage if all you lot had was cryptocurrencies? How volition you lot store basic necessacities of life inward absence of electricity as well as internet?

NgeBlog Now - If sweden is hitting yesteryear an earthquake as well as all its ability houses larn collapsed, how volition the citizens purchase goods as well as services inward such status provided that sweden is nearly cashless?

All answers convey you lot dorsum to a tangible, durable as well as defelationary commodity that may ensure stable commerce as well as merchandise inward all unexpected scenarios. Nothing qualifies ameliorate than gilded as well as silver. H5N1 currency that has intrinsic value as well as does non disappear inward absence of electricity or internet.

NgeBlog Now - Lets ignore worst instance scenarios similar wars or natural disastors as well as instead hash out what is to a greater extent than possible as well as happens every twelvemonth some the world i.e. Power Blackout.

NgeBlog Now -

NgeBlog Now - Be that the ability outage inward the next countries which effected millions of people:

2012 Republic of Republic of India blackout, 620 meg effected
2015 Islamic Republic of Pakistan blackout, 140 meg
2014 People's Republic of Bangladesh blackout, 150 meg
2015 Turkey blackout, seventy meg
2003 Northeast blackout inward USA as well as Canada, 55 meg
the listing goes on.....

NgeBlog Now - Imagine all these countries becoming 100% cashless, what would you lot encounter on the streets during a blackout when millions of people won’t live able to buy or sell nutrient as well as medicines inward telephone commutation for a cryptocurrency? Nothing big according to crypto-worshippers but violence, bloodshed as well as chaos..

Thus Bitcoin becomes completely useless when the network is offline or inaccessible. Bitcoin is subject soley on global communication networks as well as consistent ability supply. If you lot switch off the routers as well as transformers, bitcoin is dead.

NgeBlog Now - H5N1 digital currency does only brand feel if it is backed yesteryear gold reserves which are regularly audited nether strict governement rule as well as the world having opened upwards access to the aduit reports.

NgeBlog Now - In such instance fifty-fifty if entire currency is hacked or meshing goes off, the world volition not give-up the ghost bankrupt equally they volition withal receive got access to the physical gilded which they tin claim anytime using their digital IDs whose backup volition withal be on several authorities servers online or offline.

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