I have been doing my best to understand cryptocurrency for a couple years now. It’s not going well.

IMO the digital gold idea doesn’t hold up for me. At least real gold can be used for jewelry and in electronics. Digital gold is based on the greater fool as crypto has no cash flow and therefore no intrinsic value.

I try to use the snap test when assessing an industry or asset class. If you snapped away google and I wouldn’t even know how to find anything on the internet. If you snapped away Visa, you could go back to paying cash, but who carries cash?

If with the snap of a finger all Bitcoin went away today what would happen?

For me nothing. But some who hold Bitcoin, they wouldn’t like to see their asset disappear. But in this thought experiment the current holders get their money back.

Some say crypto is still early and that’s why. It’s use cases are still being discovered. It’s still growing. Investing in it today is like getting in on the early internet.

Bitcoin has been alive for 12 years.

The internet went public in 1993. 12 years later in 2005 the average person was doing a lot online. I signed up for college classes online, did research online, played halo PvP on Xbox online, went to FB to talk to people online.

12 years into crypto, what is the average person using crypto for? Other than buying a crypto to hold it so that it’ll be worth more later. But that’s just the greater fool theory of investing. Sure you can use crypto to transfer 10 Bitcoin across the world anonymously. But if you are not an international arms or drug dealer who needs to anonymously transfer 1/2 a million dollars?

I promise crypto bulls. This is not a dig. I like making money and investing in things. But I still haven’t found that reason in crypto. Help me out