I'm trying really hard to understand it. I've read tons of reddit explanations, watched videos explaining it, and watched it on stock trades for a while now. it still makes no sense to me logically.
everywhere I see claims its the strongest (non-corruptible/un-counterfeitable) version of money humans have ever made. they claim it will revolutionize life… claim our current monetary infrastructure is obsolete, but none of this makes any sense logistically to me.
everyone has some grandiose vision of the future, but nothing is ever explained in concrete terminology. its gold to some, uniquely encoded data storage to others.
why would i need data attached to a dollar? and what kind of data would even be useful? People claim its impossible to be cracked. To that my question is when have people ever made anything that is "non-corruptible"? Seriously, your telling me this "store of value" is completely uncloneable or uncrackable for all of eternity?
On top of all of this, what gives it its single unit value? stock trades fluctuate 24/7, so that's hardly a good read on anything's "staying power" or its "store of value". Look at companies like Enron for an example of a highly invested in company, that died overnight. While I understand that currencies rise and fall globally based on a lot of national and international factors. Within a sovereign body, its money typically doesn't change its local value. The cost of goods/services might go up or down based on its "staying power" but again that's not money's fault. Money is just an object that we all agree to stock a value to. if everyone in the world stopped agreeing to use (insert currency here) as it stands. Economies wouldn't collapse they would just vanish, since money is basically just imaginary value.
Also, the vested stock we place in money is entirely based on the concrete values of it that are controlled by some governing body and its controlled scarcity. "money" in its most bare bones view is an intermediary for an exchange of value for goods or services, but for that to work, the intermediary device needs to have its worth hard set so that people can dictate an equity of service or good. A 5 dollar bill is worth more than a 1 dollar bill because that is set by a governing body that we all just agree to adhere to.
If gold is the original intermediary that got replaced by modern currency, then why would bitcoin be any different? also how would its value be dictated? by the dollar? at what point is it pointless? if gold was "money 1.0" and the dollar is "money 2.0" are you telling me that bitcoin is "money 3.0".
Seriously the only reason we stopped using gold was because it was an ore that might be used for other things, plus it was inconvenient to control and could be lost. The reason we dropped the gold standard was because we moved towards a service and goods based value tied to the dollar. This means the dollar globally rises and falls based on the value of its sovereign body's production. How would a cryptocurrency change any of that?
How many different sudo-currencies need to be stock piled in metaphorical warehouses before we stop making new ones. Gold is never seen day to day and practically pointless except for the fact that it has historical significance as the first "money" . If you took that history away, its just a shiny rock. The dollar is just an ornately designed piece of paper. bitcoin is just some really fancy hash code.
Whats the point of creating a new "money". Current money in and of itself is all just public opinion and rules anyways. What makes your "money" better then current money? People claim decentralization is its biggest reason for its existence, but that doesn't mean anything because centralization is literally what gives money its value to begin with. Decentralizing it would make any form of money not mean anything at all.
