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RE: Bitcoin is the Uber of cryptocurrencies: the biggest, baddest and best-known

in #money7 years ago

One point about the "fiduciary" aspect of bitcoin that you may not have even recognized. The U.S. dollar is "backed" by the assets of teh entire country that is the United States of America. Gold has established its fiduciary relationship as it is now deemed by just about everyone that it is in fact a store of value. That fiduciary took 100's of years to establish. That has not yet been established for bitcoin. If bitcoin was to go into a "fat finger" type freefall here like ETH did ...and fell to say $800...what would bitcoins "fiduciary" be then? Bitcoin is a "fiduciary" puppy dog. I know I don't want to own a single crypto coin of any type. I'm not "unusual" in teh real world. But here at a site like steemit I am certainly the guy who just doesn't get it. Lots of us out there and for good reason too. ;-0

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