Bitcoin: The Decline Is Fundamental, Unsolvable, And The End Of BTC – Bitcoin USD (Crypt…

Bitcoin is literally worth nothing

Bitcoin (BTC-USD) has no chance of success because it’s worthless. It has nothing backing it but an illusion; no gold or silver or even a decree that it’s legal tender. It has no intrinsic value and no one needs it.

The dollar, despite being a fiat currency, is worth something because the government says it’s worth something and so does most of the rest of the world. I understand the argument that fiat is worthless as well – however until everyone else in the world agrees with that argument then fiat is indeed worth something. Gold is worth something because it’s shiny, rare, and non-corrosive, and people around the world will buy and trade gold without a problem. The same reasons support the rest of the currencies in the developed world.

Bitcoin doesn’t actually have any intrinsic value of any sort backing it – only vague assertions of its potential usefulness in the future. Your currency is only worth what other people believe it’s worth and…